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Crypto Layoffs Keep Piling up: Messari Dismisses 15% of its Headcount

Summary:
Messari – a leading provider of blockchain research and data analysis based in South Korea – added its name to the long list of crypto-focused companies that axed their workforce due to the harsh macroeconomic environment. It laid off 15% of its staff, believing this was the right step for the long run. Ryan Selkis – Founder and CEO of Messari – announced the news on Twitter, asserting that the company will help departing employees with their transition to other organizations. 1/ Yesterday we made the difficult decision to restructure several of Messari’s internal teams, leading to a 15% staff reduction. We’re grateful for the contributions of the teammates we have parted ways with, and will provide resources and connections to help them transition. — Ryan Selkis 🥷

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Messari – a leading provider of blockchain research and data analysis based in South Korea – added its name to the long list of crypto-focused companies that axed their workforce due to the harsh macroeconomic environment.

It laid off 15% of its staff, believing this was the right step for the long run.

  • Ryan Selkis – Founder and CEO of Messari – announced the news on Twitter, asserting that the company will help departing employees with their transition to other organizations.
  • He outlined the “market headwinds” in the cryptocurrency industry and the tech sector as the main reason behind the “tough” decision.
  • Despite reducing the team’s size, Selkis said Messari is still looking to hire people for a variety of open roles.
  • While the cryptocurrency market has significantly improved its condition since the beginning of 2023, the layoff spree seems nowhere near its end.
  • Polygon Labs, Coinbase, Kraken, and Crypto.com are among those who fired a chunk of their staff during the past two months.
  • 2022 also witnessed many firms downsizing, with Bitso, BybitHuobi, BitMEX, OpenSea, Gemini, and many more being some examples.
  • The world’s largest crypto exchange – Binance – remains one of the few that displayed expansion plans. CEO Changpeng Zhao (CZ) assured last summer that the platform has a “healthy war chest,” opining that the bear market is a great time to hire more personnel.
  • He doubled down a month ago, saying Binance is looking to amplify its team by up to 30%.

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