Blockchain analytics company Chainalysis will lay off about 150 people as it shifts from commercial markets to government business

Michael Gronager, CEO of blockchain analytics company Chainalysis, informed employees via email that about 150 people will be laid off, which is slightly more than 15% of its total workforce of 900. The reason for the layoffs is that the company is continuing to retreat from the commercial market and shift towards the more stable government contract business, which currently accounts for 70% of Chainalysis' revenue. Chainalysis said it is expanding the investigative capabilities of its core product with an eye on the future needs of governments. (Forbes) According to Odaily’s previous report, blockchain analysis company Chainalysis will lay off about 44 people in February this year, accounting for 4.8% of its total employees (900). The main reasons for the layoffs are the collapse of private sector demand as crypto asset prices and trading volumes fall, as well as its renewed focus on developing new products focused on the financial industry and a greater focus on public customers.