- Messari’s CEO and co-founder Ryan Selkis made the announcement on Twitter.
- The firm will assist its former workers in finding new employment.
South Korean blockchain research and data analysis service Messari has joined the ranks of crypto-focused businesses that have laid off employees in response to the current economic downturn.
They let 15% of their employees go because they knew it was the best move for the company in the long term. Messari’s CEO and co-founder Ryan Selkis made the announcement on Twitter, saying that the firm will assist its former workers in finding new employment.
Tough Times Ahead
When asked about the difficult choice, he cited “market headwinds” in the crypto business and the tech sector. Selkis said that even though the team size has decreased, Messari is still actively recruiting for a number of positions.
Although the state of the crypto industry has improved greatly since the beginning of 2023, it seems that layoffs will continue for the foreseeable future. In the last two months, several companies have let off significant numbers of employees, including Polygon Labs, Coinbase, Kraken, and Crypto.com.
Binance, the biggest cryptocurrency exchange in the world, is still one of the few to announce growth strategies. CEO Changpeng Zhao (CZ) said in the summer of last year that the platform has a “healthy war chest” and that they want to expand their workforce throughout the current bear market. A month ago, he doubled down, indicating that Binance is hoping to increase its staff by as much as 30%.
Despite the recent upward price swing, the SEC crackdown has brought more worries to the crypto sector. SEC recently went behind the staking program forcing Kraken to shut down the service.
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