Written by Jesse Coghlan, Staff Editor. Reviewed by Felix Ng, Staff Editor.
Written by Jesse Coghlan, Staff Editor.
Reviewed by Felix Ng, Staff Editor.
Crypto data company Dune cuts 25% of staff in restructuring
Latest NewsPublishedMay 15, 2026
Crypto Industry Faces Layoffs Amidst Shift to AI
The crypto industry is experiencing a wave of layoffs, with companies citing the need to restructure and focus on core products. Recently, crypto data company Dune announced it would be laying off 25% of its staff. This move is part of the company’s effort to sharpen its focus on core data products and invest in artificial intelligence and institutional interest in crypto.
Dune co-founder and CEO Fredrik Haga stated that the company remains “well capitalized” and is “all-in” on AI. The company’s Model Context Protocol allows AI to interact with the platform, making it easier for teams to build dashboards and workflows without needing to know about data infrastructure or SQL. This shift towards AI is not unique to Dune, as many companies in the crypto and tech sectors are also citing AI as a reason for layoffs.
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Industry-Wide Layoffs
The layoffs at Dune are part of a larger trend in the crypto industry. Companies such as Coinbase, Gemini, and Crypto.com have also laid off employees, citing the need to restructure and focus on core products. The use of AI is also becoming more widespread, with companies using it to increase efficiency and reduce costs.
- Coinbase cut 700 employees, or about 14% of its workforce
- Gemini laid off 200 employees
- Crypto.com laid off around 180 employees
The crypto industry is not alone in experiencing layoffs, as the US tech sector has also seen widespread job cuts. According to data from Layoffs.fyi, 137 companies have cut nearly 109,000 jobs so far in 2026.
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Source: Fredrik Haga
He added the company would also be “investing heavily” in its data products and services for institutions, as the company sees “currencies, stocks, bonds, commodities and more” are moving onchain.
Related: How AI became crypto’s favorite reason to cut staff
Dune’s cutbacks add to the more than 5,000 jobs eliminated at major crypto companies this year.
Block Inc. undertook the biggest round of layoffs of a crypto company so far in 2026, halving its workforce and cutting 4,000 staff in February.
The crypto exchanges Gemini and Crypto.com also laid off 200 and around 180 employees, respectively, earlier this year, with each citing the rising use of AI for efficiency gains.
Layoffs are also widespread in the US tech sector, with 137 companies cutting nearly 109,000 jobs so far in 2026, according to data from Layoffs.fyi.
Magazine: Guide to the top and emerging global crypto hubs: Mid-2026
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