Crypto data company Dune cuts 25% of staff in restructuring
Crypto data company Dune said it is laying off 25% of its workforce, citing a need to restructure its business to focus on its core products. “We‘re restructuring Dune to sharpen our focus around the core data products thousands of customers across the crypto industry rely on,” Dune co-founder and CEO Fredrik Haga posted to X on Thursday. “That unfortunately means we’ve let 25% of the team go this week.” Haga did not share the number of staff who were laid off. The companys LinkedIn shows about 150 employees. Haga said the company remained “well capitalized” and that Dune was “all-in” on artificial intelligence and growing institutional interest in crypto. Layoffs and closures are rising across the crypto and tech sectors this year, with many companies citing AI as both a help and a hindrance. Just this month, Coinbase cut 700 employees, or about 14% of its workforce, on May 5, citing an increase in AI use, while the crypto news outlet DL News shuttered on Friday, citing part of the reason was decreased reach in internet search results due to AI aggregation. Haga said that Dunes Model Context Protocol, or MCP, which allows AI to interact with the platform, means “teams and agents can