San Francisco-headquartered digital asset manager Bitwise has reduced its workforce by approximately 14%, scaling down its headcount from 180 to 155 employees. A company spokesperson confirmed the departure of roughly 25 staff members on Wednesday, pointing to persistent crypto market headwinds as the primary driver behind the decision.
Despite the workforce reduction, Bitwise Chief Executive Officer Hunter Horsley stated that the firm maintains a positive growth trajectory as digital assets continue to integrate into the global financial ecosystem. The layoff follows Bitwise’s acquisition of Chorus One earlier this year, a strategic expansion designed to scale its institutional staking infrastructure.
The job cuts at Bitwise reflect a broader trend across the crypto sector, where several prominent firms have downsized operations throughout 2026. However, corporate motivations across the industry remain varied. While Bitwise cited prevailing market conditions, other companies have restructured to realign capital toward emerging technologies. Coinbase and BitGo each reduced their workforces by 14% and 15% respectively, pointing to strategic pivots toward artificial intelligence and stablecoin development. Additional crypto entities, including Robinhood, Polygon, and Pump.fun, have also executed workforce trims this year.
Financial pressures have hit index products alongside individual tokens. Shares of the Bitwise 10 Crypto Index Fund (BITW), which tracks the top ten digital assets by market capitalization, including Bitcoin and Ether, have declined over 30% since the start of the year, mirroring wider market contractions across the digital asset ecosystem.
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