Layoffs occur at Messari, with a reduction of staff by 15%.
Messari Reduces Staff by 15% in Strategic Reorganization
Messari, one of the leading research firms in the cryptocurrency industry, has announced a workforce reduction of 15%. This move is part of an organizational restructuring aimed at optimizing the business and accelerating growth.
The company, known for its analytical reports, pricing data, and annual Mainnet conference in New York, will refocus on its core product lines. Messari CEO Eric Turner stated that the changes are designed to streamline operations and concentrate efforts on the company’s main areas of business.
This strategic move aligns with trends seen in other crypto firms undergoing restructurings to better adapt to current market conditions. Notably, Kraken and dYdX also conducted significant layoffs at the end of last year.
The largest mining pool, Foundry, reduced its staff by 27%, from 274 to 200 people in December. This decision reflects a reorganization to prioritize core strengths and improve efficiency in serving the crypto market.
Messari's workforce reduction may have been potentially influenced by the departure of its former CEO, Ryan Selkis, in July 2024. Selkis, who expressed anti-immigration views associated with Trump's supporting movement, reacted emotionally to the Donald Trump assassination attempt in a series of posts.
Despite this, Messari has continued to thrive, raising $21 million in 2021 and another $35 million in 2022 at a $300 million valuation. The cryptocurrency industry has seen a trend of staff reductions in recent times, indicating a shift towards efficiency and strategic focus in the face of market challenges.
Messari's restructuring, including a 15% workforce reduction, is aimed at optimizing financing and business operations, with a focus on core technology-driven product lines. The changes seem to reflect a broader trend in the cryptocurrency industry, where companies are streamlining operations and prioritizing efficiency to adapt to market conditions.
