A 14% workforce reduction has brought Bitwise Asset Management's global team to roughly 155 employees. CEO Hunter Horsley disclosed the figures to The Block. Working the math backward: at a 14% cut and a post-cut count of 155, the prior roster was approximately 180, meaning roughly 25 positions were eliminated.
The headcount math
Horsley gave The Block two numbers: a 14% rate and a post-cut count near 155. Divide 155 by 0.86 and the implied pre-cut headcount lands at roughly 180. Implied positions eliminated: approximately 25.
| Metric | Figure | Status |
|---|---|---|
| Reduction rate | 14% | Reported |
| Post-cut global headcount | ~155 | Reported |
| Implied pre-cut headcount | ~180 | Derived |
| Implied positions eliminated | ~25 | Derived |
Source: CEO Hunter Horsley via The Block. Derived figures calculated from reported inputs.
Beyond the rate and the final count, the public disclosure is sparse. No AUM figure, no revenue data, no department-level breakdown, and no timeline for further workforce action appeared in Horsley's reported comments. Which teams or geographies absorbed the cuts is not on record.
Sector context
The Bitwise reduction arrives as crypto industry layoffs accumulate during a market downturn. No severance terms appear in the public record. Bitwise has not offered a business rationale for the size of the cut, and no forward staffing projection was provided in Horsley's comments to The Block.
Bitwise operates as a crypto asset manager with a global footprint. At roughly 155 employees post-cut, the company has not disclosed whether it expects to rebuild headcount. The 14% reduction rate and a post-cut count of approximately 155 are the only metrics on record from this round.