Messari Lays Off 15% Staff Amid Crypto Industry Downsizing

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Messari restructures, letting go of full-time staff and contractors as CEO Eric Turner focuses on core growth.

Messari Announces Layoffs in the Face of Industry Challenges

Cryptocurrency research and analytics company Messari has laid off approximately 15% of its full-time staff, according to a statement from CEO Eric Turner. The decision comes as the crypto industry faces a challenging landscape, marked by reduced investment activity and widespread layoffs.

In addition to full-time employees, Messari has also opted not to renew contracts for several temporary workers, a common practice during the start of the year. These moves reflect the company's effort to streamline operations and focus on core product lines, according to Turner.

Restructuring for Growth

Turner emphasized that the layoffs are part of a broader restructuring strategy aimed at ensuring sustained growth. “We made some changes to our organizational structure earlier this week to streamline the business and double down on the growth we've seen across our core product lines,” he said.

Messari, founded in 2018, has become a leading blockchain research firm, offering analytical reports, pricing data, and its flagship conference, Mainnet. Despite the layoffs, the company remains committed to its core mission of providing top-tier insights into the digital asset space.

Layoffs Reflect Industry Trends

Messari's layoffs follow a growing trend in the crypto sector. Major players like Kraken, Axie Infinity developer Sky Mavis, and stablecoin issuer Paxos have also announced workforce reductions in recent months. Even prominent industry publications like CoinDesk have faced layoffs, with several senior editors departing recently.

The broader economic challenges and declining investor confidence in the crypto space have forced companies to reevaluate their operational strategies, often resulting in difficult decisions regarding staffing.

Leadership Transitions at Messari

The restructuring at Messari also coincides with leadership changes. Ryan Selkis, Messari's founder, stepped down as CEO last year after a series of controversial incidents on social media. Known for his outspoken political views, Selkis faced backlash for remarks made in the wake of the U.S. presidential election.

Eric Turner, formerly the company's vice president of market intelligence, assumed the CEO role, aiming to steer the company through these turbulent times.

Impact on Messari’s Future

Despite these challenges, Messari has strong backing from high-profile investors, including Point72 Ventures, Brevan Howard, and Galaxy Digital. The firm was last valued at $300 million following a $21 million capital raise in 2022.

While the layoffs mark a significant shift for Messari, the company appears focused on leveraging its resources to strengthen its core offerings. As the crypto market matures, streamlined operations may position Messari for greater stability and innovation.

The Crypto Industry at a Crossroads

The crypto industry has witnessed a series of upheavals over the past year, including regulatory scrutiny, market volatility, and declining asset values. These factors have led to layoffs across companies as they adjust to a shifting economic and competitive environment.

Messari's decision to lay off staff aligns with a broader industry trend, underscoring the need for resilience and adaptability in the face of ongoing challenges.

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  1. Economic Reporter2025년 1월 11일 오전 12:23

    Messari Cuts 15% of Workforce Amid Crypto Layoff Wave

    Messari restructures, shedding 15% of its staff to focus on growth in its core product lines. CEO Eric Turner shares insights into the decision, aligning with industry-wide challenges. Read more about the impact on Messari and the crypto sector.

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