BIG CRUNCH

Winklevoss Twins Cut More Staff From Struggling Startup Gemini

The layoffs came less than two months after a 10 percent staff cut at the company, and weeks after the brothers finished their cringey cover band tour.

Apparently the cover band wasn’t enough to save them. Billionaire brothers Cameron and Tyler Winklevoss have reportedly laid off more staff at their cryptocurrency startup, Gemini, less than two months after enacting a painful 10 percent staff cut. The exact number of layoffs is unclear, but a source at the company told TechCrunch that Gemini’s internal slack channel had shrunk by 7 percent, or about 68 people, as of Monday. An internal operating document circulating last week reportedly showed plans to take the company from 950 employees to 800. As The Daily Beast previously reported, former employees were frustrated by the brothers’ decision to tour with their newly formed cover band, Mars Junction, while their startup struggled in the crypto market downturn. It seems that at least one current employee was also unhappy, and decided to share the operating plan on the anonymous social media site Blind last week. “Wow, super lame,” Cameron Winklevoss reportedly responded in a Slack message at the time. “Friendly reminder that Karma is the blockchain of the universe.”