Crypto data company Dune cut 25 percent of its workforce as it restructures, The Block reported on May 14.

Co-founder and CEO Fredrik Haga (프레드릭 하가) said in a post on social media platform X that the layoffs are a move to focus on its core data products.

Haga said the company is restructuring to focus on a core data product used by thousands of customers in the crypto industry.

Haga cited AI investment as a reason for the cuts. He said Dune MCP has enabled teams and agents to create dashboards and workflows without knowing SQL or data infrastructure. He also said AI has become a core function of Dune's data product suite.

Dune is also stepping up investment to meet growing institutional demand. Haga said the company is making large investments in a data layer and customized services to support institutions as currencies, stocks, bonds and commodities move on-chain.

Across the crypto industry, job cuts have continued recently. This year, Blockworks and DL News shut their entire newsrooms and shifted to focus on crypto-related research and data products. Coinbase cut 14 percent of its staff, and Gemini recently sharply reduced its top management. Block and other fintech companies also reduced headcount, citing AI-driven efficiency.