Messari recently laid off approximately 15% of its workforce, affected primarily full-time employees. This decision aligns with a broader trend in the cryptocurrency sector, with other companies like Kraken and Paxos also making workforce reductions. Messari’s CEO Eric Turner highlights that the layoffs aim to streamline operations and concentrate on core growth areas.

Ryan Selkis stepped down as CEO of Messari after controversies related to his political statements. Eric Turner, formerly the vice president of market intelligence, has taken over the CEO role. Selkis’ departure was influenced by incidents that affected the team, marking a significant leadership shift within the company.

Founded in 2018, Messari is known for its blockchain research and annual conference, Mainnet. It had ambitious expansion plans under Selkis, who aimed to hire many analysts. The firm was last valued at 300 million USD in a 21 million USD capital raise in 2022, receiving backing from notable investors such as Steve Cohen’s Point72 Ventures.