The crypto bear market is still gripping many companies, including blockchain analytics firm Nansen which has just announced a major staff cut.
On May 30, Nansen CEO Alex Svanevik announced an “extremely difficult decision” to reduce the size of the Nansen team. In a statement to employees, he stated that the staff would be reduced by 30%.
“We’ll have to part ways with incredible people who have contributed to Nansen with hard work, intelligence, and creativity. And I am deeply sorry to everyone affected.”
Nansen Bear Market Blues
Svanevik cited two primary reasons for the staff layoffs at Nansen. Firstly, he said that the company scaled up too fast to cover its “breakneck growth” in the early years of operating.
Before apologizing for the mistake, he added that this growth was not truly a part of Nansen’s core strategy.
Secondly, he said that the last year has been “brutal for crypto markets.” Diversification…
