An anonymous source linked to the crypto exchange company, Gemini revealed that Gemini has laid off 7% of its workforce. The anonymous source made this revelation when speaking to the Tech media outlet, TechCrunch on 18th July 2022.

The source said that Gemini reportedly low-key fired 68 workers and the source found out about it because the workers no longer worked in the company’s slack group.

Gemini has not confirmed or denied the news so far but according to the source who has chosen to remain anonymous, Gemini is taking extreme measures to cut costs to survive the ongoing crypto winter.

TechCrunch subsequently obtained a leaked document from the source which revealed that the Company may soon lay off more workers. Gemini could be on its way to laying off up to 150 employees (about 15% of its entire workforce of 950 persons).

This particular leaked document gained the attention of the co-founder of Gemini, Cameron Winklevoss. Winklevoss wrote on Slack that it was “super lame” for one of Gemini’s employees to leak detailed information in this manner.

He condemned the leak stating that this shows how little respect the source has for the person’s co-workers and the entire company generally.

The ongoing crypto winter has forced several cryptocurrency companies to lay off workers in a bid to cut costs and stay afloat. Coinbase, which is one of the largest cryptocurrency companies in the world laid off more than 1,000 workers which represents about 18% of their workforce.

Other companies that have also laid off a significant chunk of their workforce include Celsius, Bitmex, FTX, Crypto.com, and now Gemini. Binance and Kraken appear to be the only big cryptocurrency companies in the world that are still hiring workers despite the potential economic downturn.

Featured image source: www.decrypt.co