According to CoinDesk, blockchain and smart contract programming code auditor CertiK has reduced its workforce in response to changing market dynamics. In an emailed statement, co-founder and CEO Ronghui Gu stated that fewer than 15% of the company's employees were affected by the strategic workforce adjustment. The primary goal of the move is to realign the team structure with CertiK's long-term strategic aspirations. The company remains committed to its mission and believes that these changes are crucial steps towards achieving its objectives.

This decision comes amid a series of staffing reductions across the blockchain industry, as prices for bitcoin (BTC) and ether (ETH) remain well below their previous market highs. In recent weeks, job cuts have been reported at Chia Network, Chainalysis, Yield Protocol, Blocknative, Ledger, and Yuga Labs. Last year, CertiK closed a $60 million funding round backed by SoftBank Vision Fund and Tiger Global, shortly after announcing an $88 million round led by Insight Partners at a $2 billion valuation.

CertiK, headquartered in New York City, provides a range of end-to-end security solutions, positioning itself as a one-stop shop for clients. Its offerings 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.