Crypto analytics firm Chainalysis said it’s parting ways with about 150 employees and plans to focus on government contracting.
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Madeleine Kennedy, Chainalysis’s vice president of communications, confirmed the layoffs in an email to The Block. "This week we announced that we made the difficult decision to part ways with 15% of Chainalysis employees," Kennedy said."While Chainalysis continues to be well positioned for long-term success as a consistently top-performing software company, we are very focused on growing efficiently and, due to market conditions, believe it necessary to reduce our expenses at this time.
The firm is looking to shift its focus more to the public sector, which accounts for 70% of its revenue, according to the Forbes report, and hopes to work increasingly closely with governments. © 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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