According to CoinMeta, and as reported by Bloomberg, the crypto asset management firm Bitwise has laid off about 14% of its staff, reducing the number of employees from around 180 to 155. CEO Hunter Horsley stated that even after the layoffs, the company's workforce remains the largest in its eight-year history, and it is expected to continue to grow as crypto integrates into the global economy. Bitwise manages over 70 products with assets totaling approximately $9 billion, including a $2.3 billion Bitcoin ETF. The crypto industry has been experiencing a downturn for about 10 months, with Bitcoin falling by about 50% from its historical high in October last year.