Chainalysis lays off 15% of staff to curb expenses
Chainalysis, a blockchain Analysis company backed by Singapore’s leading wealth fund GIC, has reduced its workforce by 15%. According to Bloomberg, the firm plans to curb expenses for potential long-term growth. Chainalysis had around 900 employees before the layoffs and has reduced its workforce by 135 people. “We are very focused on growing efficiently and, due to market conditions, believe it’s necessary to reduce our expenses at this time.” A Chainalysis spokesperson told Bloomberg. Moreover, the report revealed that the blockchain Analysis company, founded in 2014, laid off around 5% of its employees in February this year. You might also like: FTX’s Bankman-Fried contemplated paying Trump $5b not to run for president However, the Chainalysis spokesperson believes the firm is “well-positioned for long-term success” and will continue to “build trust in blockchains among government agencies, financial institutions, and cryptocurrency businesses.” In mid-Dec...