Singapore-based blockchain analytics startup Nansen laid off 30% of its staff,

 

Singapore-based blockchain analytics startup Nansen laid off 30% of its staff, or 43 employees, and put additional roles on hold, taking the total count to 50.  The firm cites the crypto markets rout and its failed bet to expand into verticals not aligned with its core strategy as the reason behind the workforce reduction.  In a statement posted on Twitter, CEO Alex Svanevik said, "We wanted to invest and build in a tough market when others needed to scale back." Per Axios, the company's team size ballooned by 180% in a little over a year. Svanevik adds that Nansen still has "several years of runway" left.  Nansen joins a long list of crypto firms, including Coinbase, Gemini, Anchorage Digital, Messari, and Chainanalysis, that laid off staff due to the crypto market volatility.