Crypto data firm Dune has reduced its workforce by 25% as part of a restructuring effort that shifts focus toward artificial intelligence and institutional demand for onchain data, according to statements from co-founder and CEO Fredrik Haga.
Haga confirmed the layoffs in a post on X, where he framed the decision as a strategic adjustment rather than a response to financial strain.
“We’re restructuring Dune to sharpen our focus around the core data products thousands of customers across the crypto industry rely on,” he said. “That unfortunately means we’ve let 25% of the team go this week.”
He described those affected as “exceptional people” and encouraged other firms to recruit them. The company did not disclose the exact number of employees impacted. External data from Tracxn placed Dune’s headcount at 143 in March 2026, which suggests that roughly 35 roles may have been eliminated.
Shift toward AI and institutional clients
The restructuring aligns with two priorities that Haga outlined clearly.
“Going forward, Dune is all-in on two shifts: AI and institutions coming onchain,” he wrote.
Dune built its reputation by offering access to blockchain data through SQL-based dashboards. The company now aims to reduce technical barriers through its AI-focused product, Dune MCP. Haga said the tool allows users to create dashboards and workflows without knowledge of SQL or data infrastructure.
“With Dune MCP, teams and agents can now build dashboards and workflows without needing to know anything about SQL nor data infrastructure (and associated bills),” he said.
The company also sees opportunity in the migration of traditional financial assets onto blockchain systems. Haga pointed to “currencies, stocks, bonds, commodities, and more” as areas that increasingly move on-chain. He said Dune plans to invest in its data infrastructure and client services to meet institutional demand.
Industry-wide pattern of layoffs
Dune’s decision reflects a broader pattern across the crypto and fintech sectors in 2026. Several companies have reduced staff while citing efficiency gains from AI tools.
Coinbase cut about 14% of its workforce earlier this month, which amounted to roughly 700 employees. Gemini and Crypto.com also announced layoffs this year, with both firms pointing to AI integration as a key factor. Block, led by Jack Dorsey, reduced its workforce by about 4,000 employees in February.
Media and data firms within the crypto sector have also narrowed their focus. Blockworks and DL News shut down their newsrooms this year to prioritize research and data products.
Data from Layoffs.fyi shows that 137 tech companies have cut nearly 109,000 jobs so far in 2026. Within crypto alone, more than 5,000 roles have been eliminated this year.
Questions around AI as a driver
Companies often cite AI as a central reason for workforce reductions, though reactions vary. Some industry participants accept the argument that automation allows smaller teams to produce similar output. Others question whether cost control plays a larger role.
At Dune, Haga tied the layoffs directly to product strategy. He did not indicate financial pressure.
“We remain well capitalized, excited about the future, and committed to our mission of making crypto data accessible,” he said.
Dune last raised funding in 2022 through a $69.42 million Series B round led by Coatue. The company has operated since 2018 and has expanded its data coverage across multiple blockchain networks, including Ethereum, Bitcoin, Solana, and BNB Chain.
Long-term positioning in a shifting market
Dune’s leadership emphasizes continuity despite the cuts. The firm has operated through several market cycles, during which competing data platforms have exited or scaled back operations.
Haga highlighted the company’s infrastructure as a key advantage.
“We’re the only player who has done the hard work of building the end-to-end stack for crypto data: ingestion, QA, storage, cleaning, normalizing and querying,” he said.
He ended his statement with a phrase that reflects the company’s long-term focus: “The Data Must Flow.”
Community responses to the announcement show mixed sentiment. Many users expressed support for affected employees and offered job leads. Some critics raised concerns about job displacement tied to AI adoption.
Dune has not provided a timeline for hiring or team expansion. The company’s current direction centers on a smaller workforce that aligns with its AI roadmap and institutional strategy.
Anastasiia G
Disclaimer: All materials on this site are for informational purposes only. None of the material should be interpreted as investment advice. Please note that, despite the nature of much of the material created and hosted on this website, HODL FM operates as a media and informational platform, not a provider of financial advisory services. The opinions of authors and other contributors are their own and should not be taken as financial advice. If you require advice, HODL FM strongly recommends contacting a qualified industry professional.
