Arca hedge fund reduced staff by 30%.

Arca, a hedge fund based in Los Angeles, has recently laid off 30% of its workforce due to the ongoing crypto market decline and regulatory uncertainty. A spokesperson for Arca told CoinDesk, “Growth has been hard to predict in this extended bear market and uncertain regulatory environment. Our headcount adjustment will allow us to preserve capital and resources giving us a greater chance of success until this sector experiences a shift in sentiment and a clear regulatory picture.” Arca currently employs 66 individuals according to LinkedIn and has two distinct divisions: Arca Investments, which focuses on investment management, and Arca Labs, which is dedicated to innovation. Arca raised $10 million in a Series A funding round in 2021. This article was edited by Stephen Alpher.