Reactor

Read

Chainalysis, a blockchain analysis company backed by Singapore’s leading wealth fund GIC, has reduced its workforce by 15%. 
According to Bloomberg, the firm plans to curb expenses for potential long-term growth. Chainalysis had around 900 employees before the layoffs and has reduced its workforce by 135 people. 
<blockquote class="wp-block-quote"> 
 “We are very focused on growing efficiently and, due to market conditions, believe it’s necessary to reduce our expenses at this time.” <cite>A Chainalysis spokesperson told Bloomberg.</cite> 
</blockquote> 
Moreover, the report <a href="https://www.bloomberg.com/news/articles/2023-10-03/chainalysis-says-it-decided-to-part-ways-with-15-of-staff" target="_blank" rel="noopener noreferrer nofollow">revealed</a> that the blockchain analysis company, founded in 2014, laid off around 5% of its employees in February this year.&nbsp; 
 You might also like: <a href="https://crypto.news/ftxs-bankman-fried-contemplated-paying-trump-5b-not-to-run-for-president/" rel="noopener noreferrer nofollow"> FTX’s Bankman-Fried contemplated paying Trump $5b not to run for president </a> 
However, the Chainalysis spokesperson believes the firm is “well-positioned for long-term success” and will continue to “build trust in blockchains among government agencies, financial institutions, and cryptocurrency businesses.” 
In mid-December 2022, Chainalysis stated that the <a href="https://crypto.news/chainalysis-ftxs-crash-is-not-the-darkest-crypto-event-in-2022/" rel="noopener noreferrer nofollow">FTX crash was survivable</a> while relating it to the fall of Mt. Gox.&nbsp; 
On Aug. 5, Canadian police <a href="https://crypto.news/canadian-police-deploy-chainalysis-reactor-to-combat-crypto-scams/" rel="noopener noreferrer nofollow">deployed</a> the Chainalysis Reactor to fight crypto scams and theft. The Lethbridge Police Service (LPS) in Canada said this will help to prevent crime while helping victims of the past series of hacks retrieve their assets. 
 Read more: <a href="https://crypto.news/crypto-assets-see-inflows-first-time-in-6-weeks/" rel="noopener noreferrer nofollow"> Crypto assets see inflows first time in 6 weeks </a>

Chainalysis lays off 15% of staff to curb expenses

crypto.news

Other articles published on Oct 3, 2023

$ATOM Tokenomics Changes To Be Central Discussion At Cosmoverse ‘23

Rollins (ROL) Stock: ROL Stock Price Dips; Good Time to Buy?

Project Catalyst: A Cautionary Tale Of Cardano's Failure At Decentralisation

Bitcoin Takes a Hit: Underwhelming Crypto ETF Launches Fuel Concerns

Ripple CTO Encourages Followers To Vote For New Clawback Feature

In the middle of cryptocurrency’s turbulent waters, Idris Elba partners with the Stellar Developm...

Join our free newsletter for daily crypto updates!