Crypto data analytics firm Dune has announced it is cutting 25% of its workforce to reorganize its business and focus on core products. Founder and CEO Fredrik Haga stated on X that this decision was necessary to further improve the data products used by thousands of customers. This is reported by Cointelegraph.com reports .
Although Haga did not disclose the exact number of employees, LinkedIn data suggests the company had approximately 150 staff members. Nevertheless, the executive stated that the company's financial position remains stable and that it will focus entirely on developing institutional interest in artificial intelligence and crypto assets.
Job cuts in the technology and crypto sectors have been increasing this year. Many companies are forced to optimize their workforce, citing that the use of artificial intelligence technologies is increasing efficiency. For instance, Coinbase and other major platforms have taken similar steps.
Dune is pinning high hopes on its Model Context Protocol (MCP) tool. This technology allows artificial intelligence to create analytical dashboards without needing to know data infrastructure or SQL languages. The company will continue to invest in institutional services, considering that currencies, stocks, bonds, and commodities are moving to blockchain systems.
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