- Chainalysis is planning to lay off approximately 150 of its 900 staff members as part of a strategic shift.
- This layoff follows a smaller one in February, which affected about 4.8% of the staff.
- The company’s CEO, Michael Gronager, explained that the layoffs are a necessary step as they pivot towards serving clients in the public sector, with a focus on government agencies.
- Chainalysis had been generating revenue from both government agencies and private sector firms, but due to ongoing market contractions, they are downsizing their private sector offerings.
- Despite the layoffs, Chainalysis remains financially stable with ample cash reserves, and the company plans to continue developing new software solutions while prioritizing profitability and maturity.
Chainalysis Hit by Crypto Winter, Announces Second Round of Layoffs
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