Crypto Analytics Firm Messari Cuts 15% of Workforce as Part of Restructuring

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.

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.

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.