Tag Archives: gemini

The Gemini exchange, which is based in New York and run by Cameron and Tyler Winklevoss of “The Social Network” fame, is laying off another ten percent of its workforce and reducing its headcount by even more people. About 10% of Gemini Workers Are Saying “Bye” This is ultimately the third massive layoff stint the company has performed in the past year or so, though this is only the second one to be fully reported on. In the summer of last year, Gemini really caused a...

Cameron Winklevoss – one half of the Winklevoss Twins which run the digital currency exchange Gemini in New York – has penned a letter calling for the resignation of Barry Silbert, the man who runs the Digital Currency Group (DCG). Cameron Winklevoss to Barry Silbert: Resign! Cameron stated that Silbert engaged in deceptive and fraudulent tactics during his tenure as head of his organization. The feud between the two began when the now defunct crypto exchange FTX...

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The New York Department of Financial Services reportedly launched an investigation against Gemini, alleging that the cryptocurrency exchange told its 340,000 Earn users they were FDIC-protected. The program, which provided clients up to 7.4% APY on their holdings, went down after the platform’s partner – Genesis – halted withdrawals and filed for bankruptcy. The NYDFS Targets Gemini As reported by Axios, New York’s regulator started investigating the Winklevoss-led trading...

Gemini – the Winklevoss-owned cryptocurrency exchange – has commenced its third round of job cuts in under a year, dismissing another 10% of its workforce.  Cameron Winklevoss claims the layoff was motivated by a combination of macroeconomic pressure and “unprecedented fraud” within the crypto industry. Gemini’s Shrinking Team As reported by The Information on Monday, the outlet received an internal message from Winklevoss stating that he’d been left with “no choice” but to...

Investors in the Gemini exchange in New York are suing the company and its founders – Cameron and Tyler Winklevoss – for fraud. Gemini Is Being Sued It is alleged in a class-action lawsuit that the company is in violation of the Exchange Act. A complaint was filed against Gemini and its creators in the US Southern District of New York, and it centers around the firm’s Earn Program, which offers as much as 7.4 percent interest to traders who take part in it. The program...

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Barry Silbert’s crypto conglomerate, Digital Currency Group (DCG), revealed halting quarterly dividends until further notice. In an email to shareholders, as viewed by Bloomberg, the crypto investment firm said it is currently focused on “reducing operating expenses and preserving liquidity” in response to the current market environment. Troubles for DCG The FTX collapse exposed significant irregularities in Barry Silbert’s empire, with DCG at the receiving end of intense...

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