Bitwise Cuts Staff Amid Crypto Market Slump

Bitwise Asset Management has reduced its global workforce by approximately 14%, from 180 employees to 155, due to prolonged low digital asset prices. Despite the cut, the company maintains its largest-ever staffing level and continues managing $9 billion in assets, including a $2.3 billion Bitcoin ETF.

The firm's CEO, Hunter Horsley, highlighted that the move aligns costs with current market realities while positioning Bitwise for growth as cryptocurrency adoption expands.