Gemini Reportedly Lays Off More Employees Despite Green Market Signals

Even as the broader crypto market hints at recovery and trades in green, crypto exchange Gemini is shrinking its workforce once again. Reportedly, Gemini has laid off more employees, signaling ongoing internal adjustments despite positive market trends. This latest reduction follows recent staffing cuts, raising questions about the exchange\'s future strategy.

According to reports, Crypto exchange Gemini has reportedly laid off 7% of its employees, less than 2 months after cutting down on 10% of its staff. This marks a significant adjustment for the company as it navigates the evolving cryptocurrency landscape.

New Delhi: After terminating nearly 10 per cent of staff some time back owing to turbulent market conditions, crypto exchange Gemini has laid off more employees in a concerning trend. This successive round of layoffs suggests the company is still feeling the impact of previous market instability, even amidst recent positive price movements.

The cryptocurrency exchange has reduced about 7% of its staff this time. Gemini had cited harsh market conditions as a primary driver for the initial round of layoffs. The reasons behind this second wave remain unclear, especially given the recent positive sentiment within the crypto market.

Stay updated on the latest developments in the crypto industry and the ongoing story at Gemini as we continue to monitor the situation.