Crypto industry layoffs continue through first half of 2026

Restructuring in the cryptocurrency industry that began last year has continued through the first half of this year, according to a report from CoinCup. Following workforce reductions by Wemade and Consensys in the second half of last year, major exchanges such as Coinbase, Gemini, Crypto.com, and Kraken also conducted layoffs this year. The announcements were heavily concentrated in March, when six firms—Gemini, Crypto.com, Algorand, OP Labs, PIP Labs, and Messari—publicly announced staff cuts. Meanwhile, the crypto job market has yet to recover to its 2022 peak. Although new job postings rebounded by 47% year-over-year to 66,494 last year, the number was still below the 2022 high. In January of this year, new listings on major recruitment platforms plummeted by about 80% compared to the same period last year.