Blockchain analytics company Chainalysis is cutting headcount as it reorganizes to adjust to challenges in the crypto market.
The New York-based firm, which specializes in analyzing and tracking crypto transactions for risk management purposes, said the reorganization will primarily effect its "go-to-market" team.
"As a part of this reorg, some folks will have new roles, responsibilities, and reporting lines," a Chainalysis spokesperson told CoinDesk in an emailed statement. "Unfortunately we will also part ways with some incredibly talented people within our team."
The cuts will affect less than 5 of Chainalysis‘ staff, according to Bloomberg, which would amount to 45-50 jobs with a headcount remaining of around 900.
Jobs cuts across the crypto industry have been a feature of the past few months as firms have adjusted to bear-market conditions. CoinDesk estimates that nearly 30,000 jobs have been cut by crypto firms since April 2022.
