US EditionCrypto exchange Gemini plans to lay off up to 200 staff, exit Europe and Australia
Gemini is cutting 25% of its staff and exiting multiple regions due to a tough crypto market, shifting focus to prediction markets with over $24 million traded by 10,000 users.
- Gemini is ending operations in the United Kingdom, European Union, and Australia, impacting about 200 employees as part of a 25% workforce cut.
- Cameron and Tyler Winklevoss stated that these foreign markets have proven hard to win in for various reasons, citing operational complexity and cost issues.
- Gemini's stock has fallen around 85% since its peak, and the company reported a quarterly loss of $159.5 million in its first public earnings report.
- The Winklevoss twins expressed their belief that prediction markets may become as big or bigger than current capital markets.
23 Articles
23 Articles
Winklevoss twins’ Gemini crypto exchange cuts 25% of workforce as bitcoin slumps
Gemini, the crypto firm run by Cameron and Tyler Winklevoss, is cutting up to 25% of its workforce and ending operations in the United Kingdom, European Union and Australia – a retreat that comes amidst a sustained bitcoin selloff.
After price drop: Kryptobörse Gemini withdraws from Europe. Also in Great Britain and Australia the customer accounts are to be closed. The slump on the crypto market presses on the business.
Gemini Space Station, a cryptocurrency exchange platform, announced that it plans to close all customer accounts in the United Kingdom, the European Union and Australia. As of 5 March, the inhabitants of the said regions still with accounts will only be able to withdraw the assets, without greater access to other platform services, and the total closure will occur a month later, the New York-based cryptocurrency exchange platform reported. In ad…
Winklevosses’ Gemini to Cut 25% of Jobs, Shutter Europe Business
The crypto exchange run by billionaires Tyler and Cameron Winklevoss is slashing as much as 25% of its workforce and winding down operations in the UK, European Union and Australia, marking a major pullback for two of the industry’s most high-profile figures amid a rout in the sector.
Crypto exchange Gemini plans to lay off up to 200 staff, exit Europe and Australia
Gemini Space Station , the cryptocurrency exchange founded by Cameron and Tyler Winklevoss, said on Thursday it plans to cut up to 200 jobs globally and focus operations in the U.S. and Singapore, as part of a broader cost-cutting effort.
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