Crypto Hedge Fund Arca Has Trimmed 30% of Its Staff

The company currently has 66 employees, according to LinkedIn.

AccessTimeIconJun 5, 2023 at 6:22 p.m. UTC

Arca has laid off 30% of its staff citing the continued crypto winter and regulatory uncertainty.

“Growth has been hard to predict in this extended bear market and uncertain regulatory environment,” a spokesperson for Arca told CoinDesk. “Our headcount adjustment will allow us to preserve capital and resources giving us a greater chance of success until this sector experiences a shift in sentiment and a clear regulatory picture.”

  • SEC's Gensler Was 'Consistent' Despite Being 'Fried Like a Chicken' Before the Senate: Kevin O'Leary
    00:59
    SEC's Gensler Was 'Consistent' Despite Being 'Fried Like a Chicken' Before the Senate: Kevin O'Leary
  • Bitcion Mining Is 'Real Estate' Play: Kevin O'Leary
    00:59
    Bitcion Mining Is 'Real Estate' Play: Kevin O'Leary
  • Kevin O'Leary on Institutional Demand for Spot ETH ETFs
    00:58
    Kevin O'Leary on Institutional Demand for Spot ETH ETFs
  • What's Kevin O'Leary's Best Investment Ever?
    31:31
    What's Kevin O'Leary's Best Investment Ever?
  • According to LinkedIn, the Los Angeles-based hedge fund currently has 66 employees. Founded in 2018, the company raised $10 million in a Series A funding round in 2021.

    Arca has two separate divisions, investment management arm Arca Investments and a division focused on innovation, Arca Labs.

    Edited by Stephen Alpher.

    Disclosure

    Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

    Helene Braun

    Helene is a New York-based reporter covering Wall Street, the rise of the spot bitcoin ETFs and crypto exchanges. She is also the co-host of CoinDesk's Markets Daily show. Helene is a graduate of New York University's business and economic reporting program and has appeared on CBS News, YahooFinance and Nasdaq TradeTalks. She holds BTC and ETH.