Messari – a leading South Korean-based blockchain search and data analytics provider – added his name to the long list of crypto-oriented businesses that have downsized due to the challenging macro environment.
She laid off 15% of her staff as the right thing to do in the long term.
- Messari's founder and CEO, Ryan Selkis, tweeted the news, saying the company will help departing employees transition to other organizations.
1/ Yesterday, we took the difficult decision to restructure several internal messari teams, resulting in a 15% reduction in personnel.
We’re grateful for the contributions of the teammates we have parted ways with, and will provide resources and connections to help them transition.
— Ryan Selkis ?? (@twobitidiot) February 23, 2023
- He highlighted the "adverse market winds" in the cryptocurrency industry and the technology sector as the main reason behind the "difficult" decision.
- Despite the reduced team size, selkis says messari always seeks to hire people for a variety of open roles.
- While the cryptocurrency market has improved considerably since early 2023, the wave of layoffs seems far from over.
- Polygon Labs, Coinbase, Kraken, and Crypto.com are among those who fired a chunk of their staff during the past two months.
- 2022 also witnessed many firms downsizing, with Bitso, Bybit, Huobi, BitMEX, OpenSea, Gemini, and many more being some examples.
- The greatest crypto exchange in the world – binary – remains one of the few to present expansion plans. CEO Changpeng Zhao (CZ) assured last summer that the platform has a “healthy war chest,” opining that the bear market is a great time to hire more personnel.
- He doubled down a month ago, saying Binance is looking to amplify its team by up to 30%.