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Home›Crypto›Market Structure›Bitwise cuts 14% of staff as crypto downturn accelerat…

Bitwise cuts 14% of staff as crypto downturn accelerates layoffs

The Block reports the cuts reduced Bitwise’s global team to about 155 employees, according to CEO Hunter Horsley.

Reported · Written up by our desk · Market Structure

Crypto asset manager Bitwise is cutting jobs as the industry continues to work through a downturn, with The Block reporting that the company reduced its global staff by about 14%.

Bitwise CEO Hunter Horsley told The Block that the firm trimmed headcount last week, bringing its global team to around 155 employees.

The layoffs follow a broader wave of cost reductions across crypto firms as trading and fundraising conditions weaken, The Block said.

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Sources

The BlockBitwise cuts 14% of staff as crypto layoffs mount during market downturn

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