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Chainalysis, a US-based blockchain analysis firm, has laid off nearly 5% of its staff, a company spokesperson confirmed to Tech in Asia.
The retrenchment decreased its number of employees to 900, according to Bloomberg.
The company added that the departures happened amid an internal reorganization, which primarily impacted its go-to-market team.
“As a part of this reorganization, some folks will have new roles, responsibilities, and reporting lines,” the company said in a statement. “Chainalysis is well-capitalized and will continue to hire and build out teams aligned with our refocused strategy in 2023.”
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Founded in 2014, the firm operates in over 70 countries. It provides blockchain data, software, services, and research to crypto exchanges, government agencies, and cybersecurity firms, among others.
In May 2022, Chainalysis raised US$170 million in a series F round led by Singapore sovereign wealth fund GIC.
Editing by Thu Huong Le and Lorenzo Kyle Subido
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