Want to go to the "profit road" Blockchain analysis company Chainalysis layoffs 20%

According to Coindesk, blockchain analysis firm Chainalysis cut jobs by 20%.

According to the report, Chainalysis fired 39 employees on Thursday, accounting for about 20% of its total workforce, because the startup will give priority to turning losses into profit and bringing products to market.

Chainalysis Communications Director Maddie Kennedy said layoffs involved various positions in the company, with the R&D team having the largest layoffs. The company currently has a total of 155 employees.

Kennedy said layoffs will help Chainalysis, which has been in development for five years, move toward a “profitable path” that will allow the company to shift resources to product teams and market strategies.

This is one of the largest layoffs in the industry since the end of the 2018 encryption winter. Previously, Circle dismissed 30 employees in May, accounting for 10% of its total workforce. Recently, Israeli startup Colu fired 13 employees, accounting for 30% of the total workforce.

Chainalysis issued a series of announcements before mass layoffs, indicating that the company is clues about illegal activities in reviewing public cryptocurrency data. Last month, the US Department of Justice used Chainalysis software to shut down one of the world's largest child pornography sites, killing hundreds of people and saving 23 children.

Last week, Chainalysis held an industry conference, which also introduced a new encryption data tool for institutional investors. The company completed Series B financing in April this year and received $36 million in funding from investors such as Accel and Japan's largest bank, Mitsubishi UFJ Financial Group.

Image source: Chainalysis

By Xiu MU

This article comes from the push bitpush.news, reproduced need to indicate the source.

We will continue to update Blocking; if you have any questions or suggestions, please contact us!

Share:

Was this article helpful?

93 out of 132 found this helpful

Discover more

Blockchain

Interview with Justin Sun: Web3 Yu'ebao stUSDT, Tron's Ambition to Connect DeFi and TradFi

stUSDT allows users to access low-risk and stable investment opportunities in national bonds, and supports flexible w...

Opinion

How much selling pressure remains after the hacker account has liquidated 300,000 BNB?

In recent days, with the liquidation of BNB cross-chain bridge hacker Venus account positions, crypto KOLs on the int...

Blockchain

PAData: FCoin potential victims or more than 2000 people, per capita loss or more than 25 BTC

Analyst | Carol Editor | Bi Tongtong Production | PANews Data Partner | Chain.info On February 17, the FCoin, which w...

Blockchain

Raise $130 million! Encrypted exchange INX will issue securities tokens via IPO

According to Coindesk's August 20 report, the incremental exchange startup INX Limited plans to raise $129.5 mil...

Blockchain

How to establish a compliant cryptocurrency exchange following the consecutive lawsuits against Binance and Coinbase?

Let's talk about the SEC's charges against Coinbase, which won't surprise any lawyer practicing in the United States ...

Blockchain

Exchange Rollover Records: A Article Seeing 64 Rollover Accidents Since 2018

Editor's Note: The original title was "Exchange Overturn" Source: Tokenin Users using a centralized ex...