Dune Analytics has announced a significant restructuring of its operations, resulting in the layoffs of approximately 25% of its staff. The decision was made by CEO Fredrik Haga, who cited the integration of AI tools as the primary driver behind this move.
The company is refocusing its efforts on core data products that are used by thousands of customers across the crypto industry. This includes its new AI tool, Dune MCP, which allows teams to build dashboards and workflows without requiring knowledge of SQL or data infrastructure.
Dune Analytics remains well-capitalised following this restructuring, having last raised capital in a $69.4 million Series B led by Coatue in 2022. The company is investing heavily in its data layer to serve the growing institutional market, which is increasingly embracing crypto as currencies, stocks, and bonds move onchain.