Blockchain analytics firm Chainalysis has cut 15% of its staff, or approximately 135 employees, citing difficult market conditions. The cuts reportedly come mainly from marketing and business development teams focused on the private sector. Chainalysis CEO Michael Gronager said in an email to staff that the company is "very focused on growing efficiently" and that the cuts are necessary to reduce expenses. The layoffs at Chainalysis are the latest sign of the downturn in the cryptocurrency industry. Numerous crypto companies have cut staff or filed for bankruptcy in recent months.