Deep Chao TechFlow news, according to Forbes, Chainalysis plans to lay off about 150 employees, accounting for more than 15% of the total number of employees, in order to cope with the decline in demand in the commercial market. The company is valued at $8.6 billion in 2022, but business demand has weakened due to the decline in the cryptocurrency market last year.

This is the company's second round of layoffs, with most of the cuts coming from the marketing and business development teams. The retreat resulted in lower trading revenue and blockchain activity, reducing demand for Chainalysis products, which help cryptocurrency exchanges and other companies identify illicit transactions and maintain regulatory compliance.

In response to the bear market, the company had to lower its growth forecast for the rest of the year. The company said it has sufficient cash reserves.

The company is moving towards the public sector, which already provides 70% of its revenue, and plans to expand the investigative capabilities of its core products to meet future government needs.

Chainalysis believes that the public sector still has a lot of work to do in creating a safe, regulated environment, including issues such as anti-money laundering regulations, prudential soundness, market conduct and consumer protection.