Crypto Exchange Gemini to Lay Off Another 10% of Staff

Crypto exchange Gemini is cutting another 10% of staff, The Information reports. This is the exchange's third round of layoffs in the past eight months.

Cameron Winklevoss, co-founder of Gemini, said in an internal message, "It was our hope to avoid further reductions after this summer. However, persistent negative macroeconomic conditions and unprecedented fraud perpetuated by bad actors in our industry have left us with no other choice but to revise our outlook and further reduce headcount."