CertiK, Blockchain Code Auditor, Makes 'Strategic Workforce Adjustment' of 15%

Just last year, the company raised nearly $150 million of fresh capital. Now, as crypto winter drags on, it is cutting jobs, citing "evolving market dynamics."

AccessTimeIconOct 13, 2023 at 2:17 p.m. UTC
Updated Oct 15, 2023 at 8:08 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

CertiK, a auditor of programming code for blockchains and smart contracts, has cut at least 30 jobs in response to "market dynamics."

“In response to evolving market dynamics, CertiK undertook a strategic workforce adjustment today, impacting fewer than 15% of our colleagues," according to an emailed statement from co-founder and CEO Ronghui Gu. "Our primary aim is to recalibrate our team structure to better align with our long-term strategic aspirations. CertiK remains committed to our mission and is confident that these changes are essential steps towards achieving our goals.”

The move adds to a wave of staffing reductions across the blockchain industry, with prices for bitcoin (BTC) and ether (ETH) stalling out well below their previous market highs. Just over the past few weeks, cuts have been made at Chia Network, Chainalysis and Yield Protocol, Blocknative, Ledger and Yuga Labs.

Last yeart, CertiK closed a $60 million funding round backed by SoftBank Vision Fund and Tiger Global. The funding came two weeks after CertiK announced an $88 million round led by Insight Partners at a $2 billion valuation.

Headquartered in New York City, CertiK offers a set of end-to-end security solutions that can make the company a one-stop shop for customers. Products include code auditing, threat monitoring and asset tracing.

The security service was founded in 2018 by Gu, a computer science professor at Columbia University, and Yale University professor Zhong Shao.


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.

Bradley Keoun

Bradley Keoun is the managing editor of CoinDesk's Tech & Protocols team. He owns less than $1,000 each of several cryptocurrencies.

Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.