Facing challenges in the crypto job market, blockchain data company Chainalysis has confirmed another wave of layoffs in a series of employment reductions across the crypto sector, a report from Bloomberg noted.
Founded in 2014, Chainalysis swiftly gained a reputation for tracking digital asset transactions and its collaborations with government agencies, including the US.
Realigning Amid Changing Market Conditions
In a report late Monday in the US, a spokesperson for Chainalysis Inc. disclosed the company’s decision to part with 15% of its workforce.
The spokesperson elaborated on the rationale and mentioned the company’s focus on efficient growth. The representative expressed that current “market conditions” have necessitated this adjustment to company “expenses.”
The recent layoffs aren’t the first for Chainalysis. Earlier in 2023, the company experienced a downsizing that it claims impacted less than 5% of its workers. At that juncture, Chainalysis had a team strength of approximately 900.
It is worth noting that the recurring layoffs are symptomatic of broader challenges, as the crypto sector
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Author: Samuel Edyme
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