Bitwise Cuts Workforce by 14% Amid Prolonged Digital Asset Price Slump
Digital asset management company Bitwise Asset Management has reduced its workforce from about 180 employees to about 155, a cut of roughly 14%. According to Odaily, the company said the change came during a period of prolonged weakness in digital asset prices.Chief Executive Hunter Horsley said the post-layoff headcount remains the highest in the company’s eight-year history. He added that the business is expected to keep growing as cryptocurrency becomes further integrated into the global economy.Bitwise currently manages more than 70 products, including exchange-traded funds, private funds, and separately managed accounts. Its Bitcoin ETF is about $2.3 billion, and the company oversees about $9 billion in assets.