Bitwise Cuts Staff Amid Crypto Downturn, Sees Future Growth

Bitwise Asset Management has trimmed its workforce by 14% to around 155 people after struggling with a downturn in the crypto market.

The San Francisco-based firm had previously employed nearly 180 staff, but now looks to future growth despite current challenges.

In an interview, CEO Hunter Horsley stated that the reduced workforce remains at a high level for Bitwise's eight years in business and is positioned for continued expansion as crypto becomes more integrated into the global economy.

This optimism echoes recent comments from Chief Investment Officer Matt Hougan, who suggested that Bitcoin's muted response to bad news may signal the bear market is near its floor.