Security firm Chainalysis has just announced it has made the decision to lay off 150 employees or 15% of its workforce, Forbes has reported.
The company's CEO, Michael Gronager, has said the project would have to exit the commercial market and focus on "more stable" government contracts.
Most of the layoffs have affected the marketing and business development teams focused on the private sector.
Madeleine Kennedy, director of the company's communications department, has said:
"This reorganization reflects our ongoing strategic shifts to balance our growth aspirations. We are going to focus on profitability and maturity and to ensure that we are agile in light of evolving market forces."
She has said there were many issues to address in the public sector, including anti-money laundering regulations, market conduct and consumer protection.