Messari Layoffs: New York-Based Crypto Exchange Cuts 15% Workforce as Part of Restructuring, Say Reports

New York, January 13: Messari, a New York-based cryptocurrency, has reportedly reduced its workforce as part of restructuring its business. The Messari layoffs have affected full-time employees, as the company reduced 15% of its workforce. The crypto firm cut the jobs and did not renew the contracts with many contractors. With these new layoffs, US crypto companies will change their business.

According to a report by Tech Asia, Messari CEO Eric Turner confirmed the layoffs and that after the decision, the cryptocurrency research firm would focus on its core product lines. The report highlighted that no public statement was made about this. Other reports mentioned that Messari announced layoffs to streamline its operations and ensure its resources aligned with its long-term strategy. Microsoft Layoffs: No Plans To Lay Off Employees in India, Says Company’s South Asia Head Amid Reports of Job Cuts Across Departments Globally.

The restructuring might help the company adapt to the challenging and ever-changing crypto business environment, according to the reports. This layoff announcement comes amid the struggles faced by the crypto industry. Last year, San Francisco-based Kraken laid off 15% of its employees in October 2024, affecting around 400 employees from the cryptocurrency exchange.

In November 2024, Axie Infinity maker Sky Navis reduced 21% of its workforce. The financial crisis did not trigger the Sky Navis layoffs, said CEO and co-founder Nguyen Thanh, but the company wanted to shift its focus on the products. In addition to these companies, stablecoin provider Paxos also announced reducing 20% of its staff to focus on tokenisation.TCS Hiring Alert: Tata Consultancy Services Confident To Hire 40,000 Freshers in 2025 As IT Major Positions Itself As AI-First Organisation, Chief HR Milind Lakkad.

All of these companies from the crypto industry reduced their 15-20% workforce and, amid restructuring, focused on their products or resource allocation. This is announced amid the fluctuations of crypto leader Bitcoin. Despite its sudden jump beyond USD 1,00,000, the price of bitcoin has been changing for weeks. It has reached the USD 92,000 mark after jumping to USD 98,000 last weekend. The crypto companies may announce more layoffs this year amid other tech layoffs from major companies.

(The above story first appeared on Pune Media on Jan 13, 2025 03:45 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website Pune Media.com).

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