Crypto Trading Platform Gemini Plans to Lay Off Another 10% of Its Employees

Gemini, a major U.S. cryptocurrency exchange, announced on Monday (Jan. 23) that it will be cutting its workforce by 10%, marking the third time in less than a year that the company has reduced its employees. According to PitchBook, Gemini had 1,000 employees in November 2022, meaning that around 100 employees will be affected by this workforce reduction.

TechCrunch also reported that Gemini previously cut its workforce by 7% in July 2022, following a 10% cut in June. Other crypto trading platform providers such as Crypto.com, Coinbase, Kraken and Genesis have also reduced their workforce since November 2022.

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