Bitwise has cut about 14% of its workforce, reducing headcount from roughly 180 employees to 155 as the crypto industry continues to face pressure from weaker markets.
The digital asset manager confirmed that around 25 employees were laid off. Bitwise CEO Hunter Horsley nevertheless said the company still expects long-term growth as cryptocurrencies become more deeply integrated into the global economy.
The layoffs follow similar workforce reductions across the crypto sector in 2026. Coinbase, BitGo, Robinhood, Polygon and Pump.fun are among the companies that have announced job cuts, citing reasons ranging from deteriorating market conditions to greater use of artificial intelligence.
BitGo cut about 15% of its staff in June while shifting resources toward AI and stablecoins, while Coinbase announced a 14% workforce reduction in May as part of a broader AI-driven restructuring.
Bitwise has also continued expanding in selected areas despite the cuts, including its February acquisition of staking provider Chorus One.
The retrenchment comes as crypto-related investments remain under pressure. Shares of the Bitwise 10 Crypto Index Fund, which tracks major cryptocurrencies including Bitcoin and Ether, have fallen more than 30% since the start of 2026.
The digital asset manager confirmed that around 25 employees were laid off. Bitwise CEO Hunter Horsley nevertheless said the company still expects long-term growth as cryptocurrencies become more deeply integrated into the global economy.
The layoffs follow similar workforce reductions across the crypto sector in 2026. Coinbase, BitGo, Robinhood, Polygon and Pump.fun are among the companies that have announced job cuts, citing reasons ranging from deteriorating market conditions to greater use of artificial intelligence.
BitGo cut about 15% of its staff in June while shifting resources toward AI and stablecoins, while Coinbase announced a 14% workforce reduction in May as part of a broader AI-driven restructuring.
Bitwise has also continued expanding in selected areas despite the cuts, including its February acquisition of staking provider Chorus One.
The retrenchment comes as crypto-related investments remain under pressure. Shares of the Bitwise 10 Crypto Index Fund, which tracks major cryptocurrencies including Bitcoin and Ether, have fallen more than 30% since the start of 2026.