Cryptocurrency hedge fund Arca cuts 30% of its staff

ChainCatcher news, the crypto hedge fund Arca has laid off 30% of its staff, citing the ongoing crypto bear market and regulatory uncertainty. An Arca spokesperson stated, "The personnel adjustments will allow us to preserve capital and resources, giving us a greater chance of success until the industry experiences a shift in sentiment and clearer regulatory conditions."

According to LinkedIn data, Arca currently has 66 employees. The company was founded in 2018 and raised $10 million in Series A funding in 2021. Arca has two independent divisions: the investment management division ArcaInvestments and a department focused on innovation, Arca Labs. (source link)