TechFlow news — Cryptocurrency hedge fund Arca has laid off 30% of its staff due to the ongoing crypto market downturn and regulatory uncertainty. A company spokesperson said the workforce adjustment would help Arca preserve capital and resources, positioning it for greater success during these challenging times while awaiting a shift in industry sentiment and clearer regulatory conditions.
According to LinkedIn data, Arca currently has 66 employees. Founded in 2018, the firm raised $10 million in a Series A funding round in 2021. The company operates two separate divisions: Arca Investments, its investment management arm, and Arca Labs, a division focused on innovation.
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