THELOGICALINDIAN - Although 2025 has dawned the crypto nuclear winter of yesteryear has yet to absolutely allay Just weeks afterwards Bitmain ConsenSys ShapeShift Huobi amid added Bitcoinrelated startups cut a cardinal of their agents Blockfolio which manages one of the best acclimated applications in the industry additionally had to beachcomber goodbye to talent
Blockfolio Shrinks Team
In October, Edward Moncada, the arch controlling at crypto casework provider Blockfolio, took to his company’s Medium to acknowledge that a cardinal of financiers beatific $11.5 actor his way. This allotment round, a Series A, saw Danhua, Pantera Capital, BitMEX, Huobi, a cardinal of added adventure groups/consortiums contribute.
However, in animosity of the basic influx, advancing crypto aperture The Block afresh accepted that the California-headquartered close has bargain its staffer headcount. In an interview, Moncada accepted that Blockfolio cut four employees, abbreviation its aggregation to 37 individuals from 41. The startup arch additionally accepted that Blockfolio would be putting Datablock, an affiliated adventure focused on giving consumers ascendancy of their data, on the backburner, acid bristles workers in the process.
Per The Block’s sources, the alleged “data-rights” project, accustomed in mid-2025, was afire money like no tomorrow, as it had brought on a above Wall Streeter.
In animosity of the layoff, accounted a “restructuring” by Moncada, the Blockfolio C-suite arch acclaimed that his close has been “extremely frugal,” acquainted that proactive measures were taken to ensure adaptation “in any market.” However, assembly advance otherwise. Anonymous sources told The Block that Blockfolio has been capricious with its funds, purportedly embarking on cher trips and hosting “extravagant” aggregation lunches.
One declared agent claimed that they “didn’t charge 40 people,” cartoon absorption to the actuality that Blockfolio’s competitors, best of which host articles of agnate caliber. And the firm’s angle doesn’t attending abundant better.
Sources acclaimed that although Blockfolio’s $11.5 actor war chest has assuredly helped, the aggregation is ashore amid a bedrock and a adamantine abode apropos monetization and a applicable acquirement model. A aggregate of the above factors acceptable led to this slight, yet still adverse downsizing.
Yet, while Blockfolio seems to be accepting it bad, added firms accept been faring worse.
The Ongoing Crypto Winter
Just weeks ago, as hinted at earlier, letters arose that a cardinal of startups had amorphous to cut advisers to extend their banking runways. ConsenSys, a key Ethereum development consortium, laid off 13% of its 1,300 advisers in a desperate restructuring. Then, added letters arose that the organization, headquartered in New York, has amorphous to “spin-off” spokes, projects endemic in allotment by ConsenSys, potentially abrogation hundreds with a job. The closing letters accept back been rebutted by close architect Joseph Lubin, but the 13% cut was confirmed.
Bitmain, one of the world’s best admired crypto companies, has additionally collapsed on adamantine times, with assembly claiming that the close will be shutting bottomward its mining operations, acid upwards to 1,350 advisers (half) in the process. The Beijing-based amassed will additionally be losing its co-CEOs.
Most recently, ShapeShift, the startup abaft an barter that shares its name, CoinCap, and KeepKey, laid off 37 advisers — one-third of the startup’s agent base.
