{"id":294815,"date":"2023-02-02T08:15:28","date_gmt":"2023-02-02T08:15:28","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=294815"},"modified":"2023-02-02T08:10:07","modified_gmt":"2023-02-02T08:10:07","slug":"bittrex-chainalysis-lay-off-staff-as-btc-nears-24k","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/bittrex-chainalysis-lay-off-staff-as-btc-nears-24k\/","title":{"rendered":"Bittrex, Chainalysis lay off staff as BTC nears $24K\u00a0"},"content":{"rendered":"<p>Crypto exchange <a href=\"https:\/\/cryptoslate.com\/companies\/bittrex\/\">Bittrex<\/a> and crypto analytics company <a href=\"https:\/\/cryptoslate.com\/companies\/chainalysis\/\">Chainalysis<\/a> announced layoffs in the first days of February, while Bitcoin (<a href=\"https:\/\/cryptoslate.com\/coins\/bitcoin\/\">BTC<\/a>) steadily <a href=\"https:\/\/cryptoslate.com\/bitcoin-reaches-23200-as-fed-raises-interest-rates-by-25-basis-points\/\">continues<\/a> on its increasing trajectory.<\/p>\n<p>Bittrex will permanently lay off 83 people on Feb. 4, according to U.S. Employment Security Department's <a href=\"https:\/\/esd.wa.gov\/about-employees\/WARN\">website<\/a>. Chainalysis, on the other hand, is set to send 44 employees home, according to a Forbes <a href=\"https:\/\/www.forbes.com\/sites\/stevenehrlich\/2023\/02\/01\/chainalysis-to-lay-off-48-of-staff-as-crypto-winter-bites-into-private-sector-demand\/?sh=7c2c736d6f23\">report<\/a>.<\/p>\n<h2>Bittrex<\/h2>\n<p>Bittrex's total staff number is unclear. The company has <a href=\"https:\/\/www.linkedin.com\/company\/bittrex\/\">284<\/a> employees on LinkedIn, <a href=\"https:\/\/growjo.com\/company\/Bittrex\">384<\/a> employees according to data from GrowJo, and <a href=\"https:\/\/www.zoominfo.com\/pic\/bittrex-llc\/414153134\">156<\/a> employees according to ZoomInfo's numbers. Calculated by GrowJo's data, the 83 people who got laid off correspond to 21.6% of Bittrex's entire staff.<\/p>\n<p>An internal message sent to all employees by Bittrex co-founder <a href=\"https:\/\/cryptoslate.com\/people\/richie-lai\/\">Richie Lai<\/a> was <a href=\"https:\/\/twitter.com\/AutismCapital\/status\/1620860652431753219\/photo\/1\">leaked<\/a> on Twitter on Feb. 1. In his message, Lai states:<\/p>\n<blockquote><p>\u201cThe market downturn triggered by multiple failures in the crypto ecosystem became an outright collapse by the end of the year. These events have caused us to reset our strategy,\u201d<\/p><\/blockquote>\n<h2>Chainalysis<\/h2>\n<p>The 44 people Chainalysis is laying off corresponds to 4.8% of the company's total 900 employees.<\/p>\n<p>Chainlysis Director of Communications Maddie Kennedy announced a &#8220;reorganization&#8221; of less than 5% of the company's workforce and added that most of the staff would have new roles while the majority ones on sales were let go.<\/p>\n<p>However, information Forbes obtained indicates that the main reason for the layoffs was the &#8220;collapsing private-sector demand as digital-asset prices and trading volume plummeted,&#8221; in addition to the company's desire to launch new products focused on the finance sector.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Crypto exchange Bittrex and crypto analytics company Chainalysis announced layoffs in the first days of February, while Bitcoin (BTC) steadily continues on its increasing trajectory. Bittrex will permanently lay off 83 people on Feb. 4, according to U.S. Employment Security Department&#8217;s website. Chainalysis, on the other hand, is set to send 44 employees home, according [&hellip;]<\/p>\n","protected":false},"author":1262,"featured_media":294828,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[77873,39],"tags":[],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Bittrex, Chainalysis lay off staff as BTC nears $24K\u00a0<\/title>\n<meta name=\"description\" content=\"Layoffs continue in the crypto sphere despite increasing BTC prices as Bittrex and Chainalysis lays off 83 and 44 employees, respectively.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/bittrex-chainalysis-lay-off-staff-as-btc-nears-24k\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bittrex, Chainalysis lay off staff as BTC nears $24K\u00a0\" \/>\n<meta property=\"og:description\" content=\"Layoffs continue in the crypto sphere despite increasing BTC prices as Bittrex and Chainalysis lays off 83 and 44 employees, respectively.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptoslate.com\/bittrex-chainalysis-lay-off-staff-as-btc-nears-24k\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoSlate\" \/>\n<meta property=\"article:published_time\" content=\"2023-02-02T08:15:28+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-02-02T08:10:07+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/02\/layoff-bittrex-chainalysis.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Zeynep Geylan\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:site\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Zeynep Geylan\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/cryptoslate.com\/bittrex-chainalysis-lay-off-staff-as-btc-nears-24k\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/cryptoslate.com\/bittrex-chainalysis-lay-off-staff-as-btc-nears-24k\/\"},\"author\":{\"@type\":\"Person\",\"@id\":\"https:\/\/cryptoslate.com\/author\/zeynep-geylan\/#person\",\"name\":\"Zeynep Geylan\",\"url\":\"https:\/\/cryptoslate.com\/author\/zeynep-geylan\/\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cryptoslate.com\/author\/zeynep-geylan\/\"},\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/cryptoslate.com\/author\/zeynep-geylan\/#authorimage\",\"url\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/03\/zeynep-geylan-author-300x300.jpg\",\"contentUrl\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/03\/zeynep-geylan-author-300x300.jpg\",\"caption\":\"Zeynep Geylan\"},\"jobTitle\":\"Journalist\",\"description\":\"Zeynep is an academic who turned to crypto in 2018. 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