The New York-based on-chain sleuthing firm Chainalysis prepares to part ways with some of its employees to develop a flexible organization that can endure a prolonged crypto winter.
"As a part of this reorg, some folks will have new roles, responsibilities and reporting lines," a Chainalysis spokesperson said in a statement quoted by CoinDesk. "Unfortunately, we will also part ways with some incredibly talented people within our team."
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According to a Chainalysis spokesperson, the cuts will mainly affect the firm’s sales and marketing roles. The representative for the company affirmed that the business remains well-capitalized and that it will continue to hire and build new teams under its refocused strategy in 2023.
In an interview to Bloomberg at the World Economic Forum at Davos in January, Chainalysis CEO Michael Gronager said that his company plans to expand its headcount by about 11% as part of a global expansion that could potentially include new acquisitions.
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Founded in 2014, Chainalysis is a leading provider of blockchain analytics tools that gets over half of its US revenue from government contracts. The company closed its last $170 million funding round on May 11, 2022, bringing its total valuation to $8.6 billion. Series F round, Chainalysis’ sixth since the launch, was led by GIC, Singapore's sovereign wealth fund, with participation from previous backers, Blackstone, Bank of New York Mellon, and VC firm Accel.
