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
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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.”

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.

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Helene Braun

Helene is a New York-based news reporter at CoinDesk, currently covering the criminal trial of infamous crypto mogul Sam Bankman-Fried. Helene is a recent graduate of New York University's business and economic reporting program and has appeared on CBS News and Nasdaq TradeTalks. She holds BTC and ETH.


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