A Message from Cameron and Tyler

> ... After much thought and consideration, we have made the difficult but necessary decision to part ways with approximately 10% of our workforce.

Burying this at the end of paragraph #4 seems odd. It's not like given the timing and the vagueness of the title that the audience can't deduce the topic. Still, what's wrong with a title that just comes out and says "Layoffs"?

Also, the use of the term "astronauts" for "employee" seems sad. The "workforce" is being laid off but "astronauts" are building the company.

This kind of thing must be hard to communicate, but I'm not sure that obfuscation makes it any easier.

"Here at CryptoCorp we understand how people and government regulators are slowly realizing that cryptocurrency businesses are basically pyramid/pump and dump scams, sometimes with a side of money laundering, but we're not quite ready to take our money and run just yet. However, we are implementing layoffs so that we can keep more actual dollars at the top of our pyramid, just in case we have to actually run at some point."

> ... We have closed all of our physical offices today so that these conversations will be held remotely to protect the privacy of each impacted individual.

Good policy.

(And btw the headline should be 'Gemini lays off 10% of workforce')

Maybe it has smth to do with:

https://news.ycombinator.com/item?id=31600219

Interesting timing. I got an email from Gemini today saying "The wait is over...You can now apply for the Gemini Credit Card!"

Gemini and coinbase both freezing and laying off, i guess this will be the norm for crypto winter

Wow, they got “right sizing” cleanly into a sentence.