Chainalysis to Lay Off Up to 150 Employees Due to Financial Difficulties

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Facing financial difficulties, Chainalysis, a firm specializing in blockchain analysis, has been forced to reevaluate its approach to personnel policies.

Although the company received venture investments in 2020 and 2021, funding drastically declined last year.

As a result, the management plans to lay off around 150 of its current 900 employees, reducing the staff by 15%.

In February of this year, 5% of developers and managers have already left the company.

Chainalysis CEO Michael Gronager confirmed the unfortunate necessity of cutting staff, and also noted that the company will be minimizing its work with private enterprises.

Instead, the focus will shift towards partnering with government agencies and using Chainalysis’ software to monitor the cryptocurrency market.