Bloomberg Law
June 2, 2022, 9:50 PM

Winklevoss Twins Aren’t Alone With ‘Crypto-Winter’ Job Cuts (1)

Olga Kharif
Olga Kharif
Bloomberg News

The crypto industry -- white-hot last year as Bitcoin soared to a record and enthusiasm for everything from Bored Ape NFTs to DeFi and “play-to-earn” games propelled the entire market past $3 trillion -- is feeling a chill.

Gemini Trust Co., the crypto business run by billionaire twins Cameron and Tyler Winklevoss, on Thursday told staff of plans to slash the company’s workforce by 10% as trading across the industry slumps. Rain Financial Inc. -- one of the Middle East’s largest crypto exchanges, with big backers from Silicon Valley -- also made cuts, laying off dozens of employees, according ...

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