{"id":456670,"date":"2022-06-02T17:17:05","date_gmt":"2022-06-02T14:17:05","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/winklevoss-twins-gemini-slashes-10-of-staff-during-crypto-crash\/"},"modified":"2022-06-02T17:17:05","modified_gmt":"2022-06-02T14:17:05","slug":"winklevoss-twins-gemini-slashes-10-of-staff-during-crypto-crash","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/winklevoss-twins-gemini-slashes-10-of-staff-during-crypto-crash\/","title":{"rendered":"#Winklevoss twins&#8217; Gemini slashes 10% of staff during crypto crash"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a4071bbbf62b\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a4071bbbf62b\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/winklevoss-twins-gemini-slashes-10-of-staff-during-crypto-crash\/#%E2%80%9CWinklevoss_twins_Gemini_slashes_10_of_staff_during_crypto_crash%E2%80%9D\" >&#8220;Winklevoss twins&#8217; Gemini slashes 10% of staff during crypto crash&#8221;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9CWinklevoss_twins_Gemini_slashes_10_of_staff_during_crypto_crash%E2%80%9D\"><\/span>&#8220;Winklevoss twins&#8217; Gemini slashes 10% of staff during crypto crash&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div>\n<aside class=\"single__inline-module alignleft\">\n<\/aside>\n<p>Crypto winter is coming.<\/p>\n<p>The Winklevoss twins\u2019 cryptocurrency trading hub Gemini is slashing staff for the first time since the firm was founded in the latest sign of turmoil related to the recent plunge in crypto prices.<\/p>\n<p>Cameron and Tyler Winklevoss \u2013 best known for their infamous legal spat with their former Harvard college classmate and <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Facebook<\/a> founder Mark Zuckerberg \u2013 informed Gemini staffers of the cuts in a companywide memo Thursday in which they admitted that digital currencies were in \u201cthe contraction phase,\u201d known colloquially as the \u201ccrypto winter.\u201d<\/p>\n<p>The layoffs will impact about 10% of Gemini\u2019s overall workforce. The company \u2014 which has offices in New York, Chicago and Portland, Ore. \u2014 has about 1,000 employees, according to it\u2019s LinkedIn page.<\/p>\n<p>The digital currency stalwarts cited difficulties related to \u201ccurrent macroeconomic and geopolitical turmoil\u201d for forcing them to slash jobs for the first since they founded Gemini in 2014.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/tyler-cameron-winklevoss-twins-gemini-2015.jpg?w=1024\" alt=\"The Winklevoss twins\" class=\"wp-image-22503070\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/tyler-cameron-winklevoss-twins-gemini-2015.jpg?quality=75&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/tyler-cameron-winklevoss-twins-gemini-2015.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/tyler-cameron-winklevoss-twins-gemini-2015.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>The Winklevoss twins said the market is currently in a \u201ccrypto winter.\u201d<\/figcaption><figcaption><span class=\"credit\">AP<\/span><\/figcaption><\/figure>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"433\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/tyler-cameron-winklevoss-twins-gemini-website.jpg?w=1024\" alt=\"A landing page for Gemini, created  by the Winklevoss twins in 2015.\" class=\"wp-image-22503653\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/tyler-cameron-winklevoss-twins-gemini-website.jpg?quality=75&amp;strip=all&amp;w=1536 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/tyler-cameron-winklevoss-twins-gemini-website.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/tyler-cameron-winklevoss-twins-gemini-website.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>The landing page for Gemini, created  by the Winklevoss twins in 2015.<\/figcaption><figcaption><span class=\"credit\">gemini.com<\/span><\/figcaption><\/figure>\n<p>\u201cTo that end, we have asked team leaders to ensure that they are focused only on products that are critical to our mission and assess whether their teams are right-sized for the current, turbulent market conditions that are likely to persist for some time,\u201d the twins said in the memo, which was <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.gemini.com\/blog\/a-message-from-cameron-and-tyler\">published on Gemini\u2019s website<\/a>.<\/p>\n<p>Bitcoin and other leading crypto tokens have plunged in value in recent months as investors respond to volatile market conditions by dumping their riskier assets. Cryptocurrencies and high-growth tech stocks have been hit particularly hard as the Federal Reserve moves forward with its plan to tighten monetary policy.<\/p>\n<aside class=\"single__inline-module alignright\">\n    <\/aside>\n<p>Bitcoin was trading below $30,000 as of Thursday morning \u2013 down sharply from the all-time high of $69,000 achieved last November. The downturn has resulted in sharp losses for crypto billionaires as well as retail investors who invested their savings in the sector.<\/p>\n<p>The Winklevoss twins said laid-off workers will be informed of their \u201cseparation package and healthcare benefits\u201d during an \u201cindividual conversation\u201d on Thursday. Gemini closed its physical offices and will hold the meetings remotely.<\/p>\n<p>The company will hold an all-hands meeting on Friday to discuss the layoffs and Gemini\u2019s long-term outlook.<\/p>\n<p>\u201cToday is a tough day, but one that will make Gemini better over the long run,\u201d the memo said. \u201cConstraint is the mother of innovation and difficult times are a forcing function for focus, which is critical to the success of any startup.\u201d<\/p>\n<p>Gemini representatives did not immediately return a request for comment.<\/p>\n<p>Gemini isn\u2019t the only cryptocurrency platform impacted by the recent market slump. Last month, Coinbase revealed it would slow its hiring plans, despite initially aiming to \u201cto <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/trip-and-travel\/\" data-internallinksmanager029f6b8e52c=\"10\" title=\"Trip &amp; Travel\" target=\"_blank\" rel=\"noopener\">trip<\/a>le the size of the company\u201d in 2022.<\/p>\n<p>As The Post reported, Coinbase representatives said the company has no current plans to conduct layoffs.\n                        <\/p><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/nypost.com\/2022\/06\/02\/winklevoss-twins-gemini-slashes-10-of-staff-during-crypto-crash\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;Winklevoss twins&#8217; Gemini slashes 10% of staff during crypto crash&#8221; Crypto winter is coming. The Winklevoss twins\u2019 cryptocurrency trading hub Gemini is slashing staff for the first time since the firm was founded in the latest sign of turmoil related to the recent plunge in crypto prices. Cameron and Tyler Winklevoss \u2013 best known for&#8230;<\/p>\n","protected":false},"author":1,"featured_media":456671,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/tyler-cameron-winklevoss-twins-gemini-bitcoin.jpg?quality=75&strip=all&w=1024","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[74862,76971,74866,129841,76127,4960,118001],"class_list":["post-456670","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-cameron-winklevoss","tag-winklevoss-twins","tag-6-2-22","tag-cryptocurrency","tag-layoffs","tag-tyler-winklevoss"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/456670","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=456670"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/456670\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/456671"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=456670"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=456670"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=456670"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}