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0.84%Digital Asset Manager Valkyrie Lays Off 30% of Staff: Bloomberg
The provider of crypto exchange-traded funds has trimmed its 23-person workforce
By Brandy Betz
Updated May 9, 2023, 4:02 a.m. Published Nov 14, 2022, 7:36 p.m.
Valkyrie Investments, Inc. has let go about 30% of its 23-person staff in recent weeks, according to a Bloomberg report.
“Our management team did a thorough review of asset growth year to date and reviewed every employee’s role and contribution. Like many other companies in our industry, cuts needed to be made and ours were limited to sales and marketing,” Valkyrie CEO Leah Wald told Bloomberg.
STORY CONTINUES BELOW
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Last month, Valkyrie liquidated its Balance Sheet Opportunities ETF after less than one year. The demise of the bitcoin-focused investment vehicle was attributed to an ongoing product review to meet client demand.
Read more: Crypto Asset Manager Valkyrie Lost the Biggest Investor in Its $11M Funding Round
Brandy Betz
Brandy covered crypto-related venture capital deals for CoinDesk. She previously served as the Technology News Editor at Seeking Alpha and covered healthcare stocks for The Motley Fool. She doesn't currently own any substantial amount of crypto.
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