Messari Lays Off 15% of Staff Amid Organizational Restructuring

Turner said earlier this week that the company has made some changes to its organizational structure.
The move is part of a larger trend of layoffs in the cryptocurrency sector.

According to a direct message from CEO Eric Turner to The Block, about fifteen percent of the employees at cryptocurrency data portal Messari have been let go. As part of an effort to “streamline the business and double down on the growth we’ve seen across our core product lines,” Turner said earlier this week that the company has made some changes to its organizational structure.

It seems that the news has not been publicized by the firm yet. The 15% number represents the number of “full-time” workers who have been affected by the layoffs. As is customary at the start of a new year, the firm opted not to renew a number of contracts. This is according to a person familiar with the matter.

Part of Larger Trend

The move is part of a larger trend of layoffs in the cryptocurrency sector. Which has recently included companies like stablecoin issuer Paxos, Axie Infinity, and the US based exchange Kraken.

Among the most prominent blockchain research businesses, Messari was established in 2018. In addition to providing price data and organizing an annual conference in New York City called Mainnet, the business also releases analytical papers on new crypto sectors.

Former CEO Ryan Selkis resigned last year after a string of vitriolic online comments. Including one in which he wished that Trump’s opponents would “die in an f-——g fire” in the wake of the first assassination attempt on the Republican candidate.

As the U.S. election drew near, Selkis became embroiled in many online debates. Covering conservative hot-button issues including immigration and cancel culture. Like many prominent crypto analysts, he has attended a Mar-a-Lago gala and spoken out in favor of Trump’s re-election campaign.

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