Crypto Potato 2026-03-20 07:54:56

Another Exchange Slashes 30% Workforce as AI Pivot Deepens Amid Mounting Losses

Gemini has reduced its workforce by roughly 30% since the start of 2026, extending earlier layoffs as the crypto exchange pivots toward greater use of artificial intelligence to improve efficiency, according to a shareholder letter cited by Bloomberg. Founded by Tyler Winklevoss and Cameron Winklevoss, Gemini reported that it employed about 445 people as of March 1 and did not provide an operating outlook for 2026 alongside its fourth-quarter results. Aggressive Layoffs The latest cuts come after an earlier announcement that the firm would eliminate up to a quarter of its staff, withdraw from the UK, European Union, and Australia, and part ways with several top executives, including its chief operating, financial, and legal officers. Additional US layoffs occurred beyond the initial reduction. The downsizing also comes as Gemini, which went public on Nasdaq’s Global Select Market last September, is facing financial strain after posting a full-year loss of $585 million. The figure includes unrealized crypto asset losses after losing more than $500 million in the prior year. Fourth-quarter revenue rose nearly 40% year-over-year to about $60 million, but losses widened significantly to $140.8 million from $27 million. Data from Kaiko revealed that the company operates with less than 1% of global market share, which is relatively small in scale in an industry where larger platforms dominate. By comparison, Coinbase Global Inc. employs approximately 4,951 staff, which is around 11 times more than Gemini, and recorded daily trading volumes nearly 42 times higher in the past 24 hours, based on CoinGecko data. The broader crypto market downturn has added pressure, as Bitcoin remained down about 44% from its October peak and trading activity was low amid volatility and macroeconomic uncertainty. Industry-Wide Restructuring Alongside Gemini, several industry players have downsized their workforce as market conditions remain challenging. For instance, Crypto.com recently slashed 12% of its workforce while citing the need to adapt to AI-driven changes. Algorand reduced its staff by approximately 25%. Meanwhile, OP Labs, a major contributor to the Optimism ecosystem, eliminated around 20 roles. At the same time, Messari is undergoing a leadership shakeup alongside staff cuts. Jack Dorsey’s Block Inc. also cut over 4,000 jobs, reducing staff to under 6,000 from 10,000. The company, however, later rehired a small number of employees. The post Another Exchange Slashes 30% Workforce as AI Pivot Deepens Amid Mounting Losses appeared first on CryptoPotato .

En Okunan haberler

CertiK Web3 Security Firm Joins Critical Glob...
2026-03-20
Bitcoin RSI eyes 2022 repeat as analysis sugg...
2026-03-20
Coinbase Expands Into Stock Perpetual Futures...
2026-03-20
Bitcoin whale holding $147M wakes after 13 ye...
2026-03-20
Federal Reserve Rate Hikes: BofA’s Critical W...
2026-03-20
Iran Wants to Turn the Strait of Hormuz Into...
2026-03-20
Morgan Stanley Is Making a Move No Major U.S....
2026-03-20
Coinbase launches stock perpetual futures for...
2026-03-20

Feragatnameyi okuyun : Burada sunulan tüm içerikler web sitemiz, köprülü siteler, ilgili uygulamalar, forumlar, bloglar, sosyal medya hesapları ve diğer platformlar (“Site”), sadece üçüncü taraf kaynaklardan temin edilen genel bilgileriniz içindir. İçeriğimizle ilgili olarak, doğruluk ve güncellenmişlik dahil ancak bunlarla sınırlı olmamak üzere, hiçbir şekilde hiçbir garanti vermemekteyiz. Sağladığımız içeriğin hiçbir kısmı, herhangi bir amaç için özel bir güvene yönelik mali tavsiye, hukuki danışmanlık veya başka herhangi bir tavsiye formunu oluşturmaz. İçeriğimize herhangi bir kullanım veya güven, yalnızca kendi risk ve takdir yetkinizdedir. İçeriğinizi incelemeden önce kendi araştırmanızı yürütmeli, incelemeli, analiz etmeli ve doğrulamalısınız. Ticaret büyük kayıplara yol açabilecek yüksek riskli bir faaliyettir, bu nedenle herhangi bir karar vermeden önce mali danışmanınıza danışın. Sitemizde hiçbir içerik bir teklif veya teklif anlamına gelmez