The company has in recent days laid off additional workers beyond the 25% of staff cuts it announced earlier this month, Bloomberg News reported Sunday (Feb. 22), citing sources familiar with the matter.

The news came days after the company saw its chief operating officer, chief financial officer and chief legal officer all leave Gemini on the same day. The company’s stock has dropped more than 80% since it went public last year, with its market value falling from around $4 billion to less than $700 million, the report added.

Bloomberg also cited a note from Truist Securities analyst Matthew Coad, who wrote that the departures “could…