Crypto exchange Gemini is planning to lay off 10 per cent of its workforce.
This comes on the back of customers being affected by the Genesis Capital bankruptcy in December, due to FTX collapsing late last year.
Gemini has already gone through several rounds of layoffs in the past eight months, and a Slack message was sent around, informing employees of the latest job cuts.
These aren’t the only cuts in the sector, with Coinbase and Crypto.com also reducing their workforce recently.
