Crypto analytics firm Messari has cut 15% of its staff as part of restructuring plans designed to help the company’s long-term future.
Messari are the latest crypto firm to announce redundancies during what has been coined the ‘crypto winter’ with both Coinbase and Ethereum scaling platform Polygon Labs cutting 20% of its workforce over the past few months.
Crypto.com also laid off 20% of its workforce earlier this year having previously cut it by 5% in July last year.
Messari CEO Ryan Selkis stated in a series of tweets: “Yesterday [Wednesday] we made the difficult decision to restructure several of Messari’s internal teams, leading to a 15% staff reduction.
“We still plan to hire for a number of open roles and will continue working to bring better transparency and data standards to crypto. Market headwinds (in crypto / tech generally) led to a tough decision. But I'm confident this move will put us on stronger footing long term.”
The firm raised $35m in Series B funding last year, led by Brevan Howard Digital and including investments from Morgan Creek Digital, Samsung Next, FTX, Galaxy and Coinbase.
Selkis said at the time: “This new funding will help us grow our team, expand internationally and invest in new data offerings and tools that complete our market-leading product suite.”
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