Tyler Winklevoss and Cameron Winklevoss (L-R), creators of crypto exchange Gemini Trust Co. on stage at the Bitcoin 2021 Convention, a crypto-currency conference held at the Mana Convention Center in Wynwood on June 04, 2021 in Miami, Florida.
Joe Raedle | Getty Images
Billionaire bitcoiners Cameron and Tyler Winklevoss are laying off 10% of the workforce at Gemini, a first for the U.S.-based cryptocurrency exchange and custodian.
The twins announced in a blog post on Thursday morning that the industry is in a “contraction phase” known as “crypto winter,” which has been “further compounded by the current macroeconomic and geopolitical turmoil.”
“We are not alone,” the memo continued. Fellow crypto exchange Coinbase recently reported that revenue had fallen 27% from a year ago, as had overall usage.
It’s been a brutal few weeks for the crypto market. Half a trillion dollars was wiped off the sector’s market cap as terraUSD, one of the most popular U.S. dollar-pegged stablecoins,...
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...