Wow, it turns out that some major crypto platforms are conducting massive layoffs. Gemini just cut 30% of their team since the beginning of the year, and now they are integrating AI tools to boost efficiency. They lost more than $500 million last year, so it seems like they need significant cost-cutting.

Earlier in March, Gemini still had around 445 employees. This is a trend currently happening in the industry, with many platforms starting to replace manpower with automation. Artificial intelligence has become the chosen solution to stay competitive without bearing too heavy operational costs.

Do you think this will become the new standard in the crypto industry or what? It looks like next year we’ll see more companies taking similar steps to survive in this tough market.