Crypto Adoption Is Growing. So Why Are Crypto Companies Laying Off Workers?

The crypto industry is facing a strange situation in 2026 where more businesses and people are using crypto, but crypto companies are also laying off more workers.

At least 60 crypto, Web3, and blockchain companies have announced layoffs this year, according to data from CryptoJobsList. That is already higher than the previous record of 38 companies in 2023, even though 2026 is not yet over when the data was collected.

So why are companies cutting jobs if crypto is growing?

The answer is not simply that the crypto market is struggling. Companies are also restructuring, cutting costs, using artificial intelligence (AI), and changing their business plans. Some companies are even laying off workers while hiring for other jobs.

This suggests that the crypto industry is not necessarily shrinking. Instead, companies are changing how they work and what types of employees th…

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