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

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 🥷 (@twobitidiot) February 23, 2023

• 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, Bybit, Huobi, 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%.