- Chainalysis reduced its workforce by 15% due to bear market conditions.
- The firm maintains a commitment to building trust in the blockchain space.
- Meanwhile, Chainalysis actively recruits investigators and data analysts.
According to a report from Bloomberg, the prominent blockchain security data company Chainalysis has recently announced another round of layoffs in the crypto sector. The report quoted a spokesperson for Chainalysis in a Monday briefing in the United States as the source of the development.
According to a spokesperson, the company has decided to part ways with approximately 15% of its workforce. The Chainalysis representative cited the necessity to trim expenses due to prevailing market conditions.
“We are very focused on growing efficiently and, due to market conditions, believe it necessary to reduce our expenses at this time,” the statement read. Besides, the firm acknowledged it was difficult to send its resourceful employees packing.
Furthermore, Bloomberg highlighted that the recent move follows earlier layoffs in 2023 that impacted less than 5% of the company’s workforce. The report mentioned that Chainalysis, known for its expertise in tracking digital asset transactions and fraudulent entities, previously had approximately 900 employees.
Moreover, Bloomberg noted that the crypto sector has witnessed a series of job losses, primarily stemming from the longstanding bear market conditions. It argued that thousands of positions within the industry have been affected so far this year.
Despite the challenges, Chainalysis has expressed optimism about its long-term prospects. The spokesperson reaffirmed the company’s commitment to “building trust in blockchains among government agencies, financial institutions, and cryptocurrency businesses.”
Meanwhile, Coin Edition can confirm that Chainalysis is actively recruiting experts across various jurisdictions despite the 15% workforce layoffs. Specifically, Chainalysis’ career page shows openings for American On-site Investigators, Canadian Staff Product Data Analysts, and Japanese Account Executives in the Public Sector.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
