Bitwise reduces staff 14% to strengthen long‑term positioning

Bitwise cut 14% of its workforce, reducing its team to approximately 155 people, amid a prolonged downturn in the crypto market. The move was confirmed by CEO Hunter Horsley, who stated that the adjustment “positions us well for the continued growth we have seen this year and that we expect to continue as cryptocurrencies become more integrated into the global economy.”

The market impact is reflected in the numbers of the company’s flagship product: the Bitwise 10 Crypto Index Fund (BITW) recorded a 31% decline in net assets during the first seven months of 2026. Despite adverse conditions, Bitwise completed in February the acquisition of Chorus One, an institutional staking provider, with the goal of expanding that line of operations.

Layoffs across the crypto industry have been piling up throughout 2026: Polygon Labs announced its second round of cuts of the year in July, BitGo eliminated 15% of its workforce in June, and Coinbase reduced its headcount by 14% in May.

For his part, Bitwise’s Chief Investment Officer, Matt Hougan, expressed optimism, noting that bitcoin’s resilience in the face of recent bad news suggests that the bear market may have bottomed out.

… Continue reading the full article at the original source below.