Crypto analytics firm Messari has laid off approximately 15% of its staff, according to CEO Eric Turner.
| Key Takeaways: – Crypto analytics firm Messari has laid off 15% of its staff as part of a restructuring to streamline operations. – Founder Ryan Selkis stepped down as CEO following controversial social media incidents, with Eric Turner taking over the role. |
In a statement to The Block, Turner explained that the decision was part of an effort to streamline the company and focus on growth across core product lines. The restructuring, which also included a reduction in contractors, comes as the company aims to enhance its operational efficiency.
Founded in 2018, crypto analytics firm Messari has become one of the most recognized names in blockchain research, known for its analytical reports, pricing data, and the annual Mainnet conference in New York City. The company has not publicly announced the layoffs yet.
The downsizing marks a shift in the company’s leadership, as founder Ryan Selkis stepped down as CEO late last year after a series of controversial incidents on social media. These included inflammatory comments about political opponents and public disagreements surrounding the U.S. election. Selkis admitted that his rhetoric had harmed the company, leading to his decision to resign.
Turner, previously the Vice President of Market Intelligence at Messari, succeeded Selkis as CEO. Under his leadership, the company is looking to refocus on its mission of supporting the growing blockchain sector.
Crypto analytics firm Messari, valued at $300 million during a 2022 funding round, counts high-profile investors like Steve Cohen’s Point72 Ventures and Mike Novogratz’s Galaxy Digital among its backers.
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