Nansen Blockchain Platform Cuts Workforce by 30% Amid Crypto Market Challenges

Singapore-Based Startup Trims Staff as Crypto Industry Faces Price Pressure and Market Difficulties

Blockchain platform for the crypto industry Nansen has announced that it will lay off 30% of its staff, citing broader difficulties in the market for cryptocurrencies and related assets, Bloomberg reports.

- Advertisement -

The company had been trying to expand its business into areas that were not at the core of its strategy, CEO Alex Svanevik noted in a statement posted on Twitter.

Having been founded in 2019, the startup’s expansion coincided with the explosion in demand for services related to crypto assets and related investments. Venture capital firms Accel, GIC and Andreessen Horowitz are among those who had backed the company with funds, according to its website.

Nansen’s core costs “are too high relative to where the company is today,” Svanevik also said. Based in Singapore, the company had 120 employees in 2022, according to data from PitchBook.

Over the past year, the cryptocurrency industry has faced a strong price pressure, which has led to a wave of bankruptcies and layoffs at companies around the world.

READ NEXT

Previous Articles:

- Advertisement -

Latest News

BPX Gains FCA Nod to Trade Tokenized Securities in the UK

BPX, a startup focused on trading tokenized securities, received several authorizations from the UK’s...

Shopify, Coinbase Launch USDC Payments; Mastercard Expands Crypto Access

Shopify and Coinbase allow merchants to accept USDC stablecoin payments, making crypto transactions easier...

Coinbase Launches Wrapped ADA and LTC on Base, COIN Hits New High

Coinbase has introduced wrapped versions of Cardano (ADA) and Litecoin (LTC) on its Ethereum...

ClickFix Attacks Surge 517% in 2025, Fake CAPTCHAs Spread Malware

ClickFix attacks using fake CAPTCHA verifications have risen by 517% in early 2025, according...

FHFA Orders Fannie, Freddie to Consider Crypto as Mortgage Collateral

The U.S. Federal Housing Finance Agency ordered Fannie Mae and Freddie Mac to consider...

Must Read

How to Buy VPN With Bitcoin Using CyberGhost VPN

In this step-by-step guide, you will learn how to purchase a VPN (Virtual Private Network) subscription using Bitcoin, a popular cryptocurrency, and CyberGhost VPN,...