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Crypto Analytics Firm Messari Cuts 15% of Workforce as Part of Restructuring
The crypto intelligence firm, which is led by Ryan Selkis, had closed a $35 million Series B fundraising round last year.
Crypto intelligence firm Messari has cut 15% of its employee base as part of a restructuring effort, the firm told CoinDesk.
"Messari reduced our global workforce by 15% as part of a restructuring. This was a difficult, but long-term focused realignment that will help us better serve our customer’s data needs in the rapidly evolving economic and tech climate. We are grateful for the contributions of the employees we have parted ways with, and have provided them with a separation package to ease the transition." Messari CEO Ryan Selkis told CoinDesk.
STORY CONTINUES BELOW
Messari is the latest in a string of prominent crypto companies announcing job cuts in an effort to weather the crypto winter that started last year. Both Coinbase and Ethereum scaling platform Polygon Labs cut 20% of their workforce in the past few months.
"We still plan to hire for a number of open roles and will continue working to bring better transparency & data standards to crypto. Market headwinds (in crypto / tech generally) led to a tough decision. But I'm confident this move will put us on stronger footing long term." Selkis said in a tweet on Thursday.
2/ We still plan to hire for a number of open roles and will continue working to bring better transparency & data standards to crypto.
— Ryan Selkis 🪳 (@twobitidiot) February 23, 2023
Market headwinds (in crypto / tech generally) led to a tough decision. But I'm confident this move will put us on stronger footing long term.
Last year, the crypto intelligence firm closed a $35 million Series B round led by Brevan Howard Digital.
Read more: Polygon Labs Cuts 20% Workforce, Almost 100 Jobs
UPDATE (Feb. 23, 2023, 13:02 UTC): Adds Selkis' tweet and some details.
Parikshit Mishra
Parikshit Mishra is CoinDesk's Regional Head of Asia, managing the editorial team in the region. Before joining CoinDesk, he was the EMEA Editor at Acuris (Mergermarket), where he dealt with copies related to private equity and the startup ecosystem. He has also worked as an Senior Analyst for CRISIL, covering the European markets and global economies. His most notable tenure was with Reuters, where he worked as a correspondent and an editor for various teams. He does not have any crypto holdings.
Omkar Godbole
Omkar Godbole is a Co-Managing Editor on CoinDesk's Markets team based in Mumbai, holds a masters degree in Finance and a Chartered Market Technician (CMT) member. Omkar previously worked at FXStreet, writing research on currency markets and as fundamental analyst at currency and commodities desk at Mumbai-based brokerage houses. Omkar holds small amounts of bitcoin, ether, BitTorrent, tron and dot.
