TaxBit cut staff by 40%

TaxBit, a developer of software for calculating taxes and automating accounting for cryptocurrencies, laid off 80 employees (~40% of the state). About it writes The Information.

At the same time, Austin Woodwart, CEO and co-founder of TaxBit, resigned. He will be replaced COO Lindsey Argalas.

In December 2022, the startup took a similar step – the cuts affected 15% of specialists.

In August 2021, the company raised $130 million in a Series B funding round. The startup joined the unicorn club with a $1.33 billion valuation. At that time, TaxBit expected to double its staff.

Recall that after the start of the crypto winter, cuts were reported by Copper, Coinbase, ConsenSys, Genesis Trading, Blockchain.com, Gemini, Luno, Matrixport, Chainalysis, Bittrex, Messari and other companies.

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