Bitwise Cuts 14% of Staff as Crypto Market Slump Hits Fund Managers
Bitwise has laid off 14% of its workforce in response to a protracted crypto market decline, leaving the firm with approximately 155 employees. The asset manager’s flagship BITW product has seen its assets fall 31% year-to-date.
BITW
Bitwise Asset Management has reduced its headcount by 14% as the crypto downturn persists. After the cuts, the firm now employs around 155 people.
The layoffs come amid a broader market slump that has weighed on asset values. Bitwise’s flagship BITW fund has suffered a 31% decline in assets since the start of the year.
Source: ForkLog