Bitwise Lays Off 14% of Staff Amid Crypto Slump
Bitwise Asset Management has reduced its workforce by 14%, cutting headcount to about 155 from 180 employees. This reduction comes as a prolonged slump in digital-asset prices forces many firms across the industry to cut costs.
The move is not unique, as Coinbase also cut 14% of its workforce earlier this year, and exchanges Gemini, Crypto.com, and Kraken have all announced reductions.
According to trackers, more than 7,254 job cuts have been disclosed across 47 companies so far in 2026, with many company disclosures omitting concrete headcount stats.
Bitwise's CIO, Matt Hougan, sees things differently. He believes the market is 'in the process of bottoming right now', citing a collapse in excess leverage and record stablecoin supply as signs that institutional selling pressure is easing.