Crypto News – Around 150 employees, more than 15% of Chainalysis‘s 900-person workforce, will lose their jobs as a result of the layoffs, which are expected. Thus, Chainalysis layoffs are in their second round.
Round 2 of Chainalysis Layoffs Begins
The marketing and business development teams that specialize in the private sector are predicted to be the most affected by Chainalysis’s layoffs. Particularly after the price of Bitcoin fell by 60% from its peak in November 2021, these jobs have encountered a growing number of difficulties.
This reorganization reflects our ongoing strategic shifts to balance our growth aspirations. We are going to focus on profitability and maturity and to ensure that we are agile in light of evolving market forces.
Madeleine Kennedy, Vice President of Communications
Why Did Chainalysis Feel the Need to Layoff Again?
Both blockchain activity and trading revenue fell as a result of the market downturn. Therefore, the need for Chainalysis products, which help crypto exchanges comply with regulations and detect irregular transactions, has also decreased. Though the business had initially anticipated a 50% rise from mid-2022 to mid-2023, it now needs to revise its projections for the rest of the year. Despite the present weak market, Chainalysis is still financially stable.
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