Posted 10/3/2023, 3:30:03 AM

Crypto Analytics Firm Chainalysis Lays Off 15% of Staff Due to Bear Market

Chainalysis, a blockchain analytics firm, laid off 15% of its staff (around 150 employees) this week due to continued bear market conditions.
This is the second round of layoffs for Chainalysis this year. The company laid off around 40-50 employees in February.
The cuts are mainly coming from marketing and business development teams focused on the private sector.
Chainalysis had around 900 employees before the latest cuts.
The layoffs come as the crypto bear market has reduced demand for commercial blockchain products. Chainalysis is the latest crypto/blockchain firm to conduct layoffs this year.

cointelegraph.com

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10/3/2023

Chainalysis Lays Off 15% of Staff Amid Crypto Winter, Shifts Focus to Government Sector

Chainalysis is laying off approximately 150 employees, or slightly over 15% of its staff, as the company shifts its focus from the commercial market to government contracting in response to the decline in cryptocurrency and the reduced demand for its products.