Tether has dismissed two senior precious metals traders it recruited from HSBC just months earlier, reflecting a quick reversal in its push into traditional metals trading. The move raises questions about Tether's non‑crypto expansion and reserve diversification plans.
Gemini Space Station, the crypto exchange launched by Tyler and Cameron Winklevoss, has reduced its workforce by about 30% since the start of 2026. The move is part of a broader reorganization to lower costs and refocus the business amid challenging market conditions.
Internal sources report that Optimism is cutting more than 20% of its workforce, a significant drawdown for the Ethereum layer-2. The move could slow product roadmaps and developer support as the company clarifies next steps.
Gemini will cut up to 200 jobs and withdraw from Europe and Australia, concentrating operations in the U.S. and Singapore as part of a cost-cutting plan.
Tether is closing its crypto-mining operations in Uruguay and has laid off 30 employees, attributing the move to rising local energy costs. The company did not detail immediate plans for the affected workforce or its remaining mining footprint.