According to The Information, crypto trading platform Gemini will lay off 10% of its employees, the company's third layoff in nearly eight months.
“We had hoped to avoid further layoffs beyond the summer, however, continued negative macroeconomic conditions and unprecedented fraud perpetrated by bad actors in our industry have left us with no choice but to revise our outlook and further reduce our workforce,” Gemini co-founder Cameron Winklevoss wrote in an internal message to employees.