Fireblocks to lay off 7% of workforce amid Visa acquisition rumors - CTech
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Fireblocks, the Israeli-founded digital asset security company, is set to lay off approximately 60 to 70 employees, including dozens in Israel, representing about 7% of its global workforce of roughly 900 people. Full list of Israeli high-tech layoffs in 2026 The planned cuts come as the company faces reports that Visa is considering an acquisition. On Thursday, Fireblocks rejected reports of a potential deal, saying: "We are aware of the rumors about a possible acquisition of Fireblocks by Visa. This is news to us, and not true at present time." The reported transaction would value Fireblocks at approximately $2.5 billion, well below the $8 billion valuation it reached in 2022. This would be Fireblocks' third round of layoffs in recent years. In February 2023, the company cut approximately 30 employees, or 5% of its workforce. A year later, it laid off another 20 employees, representing about 3% of its team, as part of a restructuring of its go-to-market and customer support operations. Fireblocks has raised approximately $1.04 billion across several funding rounds. Its most recent major funding round, in January 2022, brought in $550 million and valued the company at $8 billion. The company reported in September 2022 that its annual recurring revenue had surpassed $100 million. Founded in 2017, Fireblocks provides infrastructure that enables banks, cryptocurrency exchanges...
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