The crypto data landscape is shifting rapidly, and Dune is the latest major player to feel the pressure. Dune co-founder and CEO Fredrik Haga announced this week that the company is laying off 25% of its workforce as part of a strategic pivot toward artificial intelligence and institutional services. While the exact number of affected employees wasn’t disclosed, the company’s LinkedIn profile lists approximately 150 staff members, suggesting around 37 positions were eliminated.
Haga characterized the move as a necessary “restructuring” to sharpen the company’s focus on its core data products. Despite the cuts, he maintained that the firm remains well-capitalized and is simply reallocating resources to meet the changing demands of the market. This decision comes as “all-in” bets on AI become the new standard for survival in the fintech space.
The Strategic Shift Toward AI and Institutional Data
The core of Dune’s new strategy revolves around making crypto data more accessible to those who aren’t necessarily technical experts. Haga highlighted the importance of their Model Context Protocol (MCP), a tool that allows AI to interact directly with the Dune platform. This innovation enables AI “agents” and non-technical teams to build complex dashboards and workflows without needing to master SQL or understand the underlying data infrastructure.
Beyond AI, Dune is doubling down on the institutional side of the house. The company anticipates a future where traditional assets like stocks, bonds, and commodities are increasingly moved “onchain.” By investing heavily in institutional-grade data products now, Dune aims to be the primary infrastructure provider for banks and hedge funds entering the blockchain space.
A Turbulent Year for Employment in the Crypto Sector
Dune is far from alone in its downsizing efforts. The crypto industry has seen over 5,000 jobs eliminated so far in 2026, often driven by a mix of market consolidation and AI-driven efficiency. Earlier this month, Coinbase reduced its headcount by 700 employees (roughly 14%), specifically citing the increased utility of AI as a reason for the leaner team structure.
The most significant hit to the industry came in February when Block Inc. halved its workforce, cutting 4,000 positions. Other major exchanges like Gemini and Crypto.com have also trimmed their staff by hundreds of employees this year.
This trend isn’t limited to the “crypto bubble” either. According to data from Layoffs.fyi, the broader U.S. tech sector has seen nearly 109,000 jobs cut across 137 companies in 2026 alone. While the transition to AI promises long-term efficiency and new capabilities, the immediate reality for many workers in the sector is a period of significant instability as companies “sharpen their focus” for the next era of finance.
