The Winklevoss Twins Laid Off Dozens Of Staff At Their Crypto Company, But That Hasn’t Stopped Them From Touring With Their Much-Mocked Cover Band

The cryptocurrency market is not doing so hot right now, with prices plummeting so low that people are once again remembering that notorious Matt Damon Super Bowl crypto ad. It’s gotten so bad that Gemini, the exchange company run by Cameron and Tyler Winklevoss — aka the Winklevii, made famous by their lawsuit against Mark Zuckerberg and portrayal in the film The Social Network — had to law off 10 percent of their staff. But that hasn’t stopped them from touring with their much-mocked cover band.

In a new report by The Daily Beast, current and former Gemini employees spilled the dirt on the company’s attempts to deal with the floundering crypto market, as well as multiple lawsuits. They’ve responded in two ways: with layoffs and by putting more weight on Mars Junction, their touring cover band in which they do renditions of “Don’t Stop Believin’” and The Red Hot Chili Peppers’ “Suck My Kiss.”

The twins have gone so far as to remove references to crypto from their Twitter bios and replaced a link to Gemini with one for Mars Junction, which is described on their Twitter bio as a “hard-hitting rock band.”

“They laid off 10 percent of their staff,” one former staffer told The Daily Beast, “and then they went on tour with their rock band.”

The Winklevii launched Gemini in 2014, in the early days of the cryptocurrency craze, when bitcoin was only worth a few hundred dollars. Today, one current employee describes it as a “sinking ship.” Meanwhile, Mars Junction spent Saturday night playing in Brooklyn.

(Via The Daily Beast)