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Tuesday, July 8, 2025

Winklevoss Twins' Gemini Slashes Staff 10% on Crypto Slump - Bloomberg

Gemini Trust Co., the crypto business run by billionaire brothers Cameron and Tyler Winklevoss, is making its first-ever job cuts, slashing 10% of staff as trading across the industry slumps.
“This is where we are now, in the contraction phase that is settling into a period of stasis — what our industry refers to as ‘crypto winter,’” the brothers wrote in a memo sent to employees Thursday that was viewed by Bloomberg News. “This has all been further compounded by the current macroeconomic and geopolitical turmoil. We are not alone.”
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Cryptocurrency prices have declined this year from the highs reached in early November and have largely remained in the doldrums. It’s only recently, though, that digital-asset executives have begun to characterize the situation as a cyclical “crypto winter,” when token prices may stay depressed for...



Read Full Story: https://www.bloomberg.com/news/articles/2022-06-02/winklevoss-twins-gemini-sl...

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