Bitwise cuts 14% of staff while still expecting growth
Summary
Bitwise cut about 25 jobs, or 14% of its workforce, reducing headcount from roughly 180 to 155 at its San Francisco headquarters. The layoff comes amid a broader crypto downturn and follows similar workforce reductions across the industry. Bitwise still expects long-term growth as crypto becomes more integrated into the global economy. The company bought Chorus One in February to expand staking services. Other crypto firms have also cut staff this year, including BitGo and Coinbase, citing shifts toward AI and stablecoins. Bitwise’s crypto index fund has fallen more than 30% since January.
