Bitwise Cuts 14% of Staff to 155 as Crypto Downturn Drives Industry Layoffs
Updated
Updated · Yahoo Finance · Aug 12
Bitwise Cuts 14% of Staff to 155 as Crypto Downturn Drives Industry Layoffs
3 articles · Updated · Yahoo Finance · Aug 12
Summary
Bitwise cut about 25 jobs, leaving the San Francisco asset manager with roughly 155 employees, down from nearly 180.
Hunter Horsley said the 14% reduction was driven by the crypto market downturn, but argued the firm still has its largest workforce in its eight-year history and expects future expansion.
Matt Hougan recently pointed to Bitcoin's muted reaction to bad news as a sign the bear market may be nearing a floor, underscoring Bitwise's longer-term optimism despite the cuts.
2026 has brought broad crypto layoffs: Coinbase cut about 700 jobs, Gemini reduced headcount by roughly 30%, and firms including MARA, Crypto.com, Dune, Polygon Labs and Robinhood also trimmed staff.
Bitwise manages billions while slashing staff; could this AI-driven restructuring expose hidden vulnerabilities in institutional crypto infrastructure?
With crypto fundraising booming in 2026, are industry layoffs truly about market weakness, or a silent pivot to replace humans with AI?
If Bitcoin is nearing a market bottom, why are top asset managers suddenly shrinking their teams instead of preparing for the next rally?