Blockchain data and research platform Messari announced on Monday that CEO Eric Turner has resigned, and after discussions with the board, CTO Diran Li has been confirmed to succeed as CEO. Along with the personnel change, Messari also carried out a round of layoffs. The company stated that this restructuring aims to reposition itself as an “AI-first” organization.
Details of the CEO Transition and Layoffs
Leadership Transition: Turner confirmed his departure on social media, stating he will continue to be involved with the company as an advisor. Turner took on the role of CEO in 2024, becoming the second CEO after founder Ryan Selkis—who resigned following a series of controversial posts on the X platform.
Scope of Layoffs: Li did not disclose the exact number of affected employees in the announcement, only describing it as “a difficult decision” during the transformation process, indicating the layoffs are quite substantial.
New Leadership Direction: Li, with a background as CTO, taking over as CEO signals a clear shift towards a technology-driven transformation for Messari—focusing product development from manual research to AI-powered automated analysis capabilities.
AI-First Strategy: The Survival and Transformation Logic of Crypto Research Firms
Founded in 2018, Messari is well-known in the industry for publishing analysis reports on emerging cryptocurrencies, providing market data, and hosting the annual Mainnet Summit in New York City. It is one of the most representative independent organizations in crypto research.
Li explained that the core logic of this restructuring is to transform Messari into an “AI-first” company by leveraging machine learning and large language models to automate many research processes traditionally reliant on human effort, thereby offering more efficient and scalable analysis services to institutional clients. This direction aligns with the broader trend of AI adoption in the crypto market but also implies a significant reduction in traditional research roles that depend heavily on human labor.
The rationale behind the layoffs is highly similar to the reason cited by Jack Dorsey’s Block Inc. last month when it cut nearly 40% of its staff (about 4,000 employees)—reducing traditional functions to concentrate resources on AI development and a few core priorities.
Layoff Wave in the Crypto Industry: Messari Is Not an Isolated Case
Messari’s layoffs are part of a recent wave across the crypto industry:
- OP Labs (Optimism developers): Announced last week a reduction of about 20% of staff to focus resources on key projects.
- Block Inc. (Jack Dorsey): Announced last month nearly 4,000 layoffs (about 40% of total employees), citing AI transformation as the main reason.
- Gemini: Laid off 25%, mainly focusing on core US operations.
The common feature of this wave is that crypto companies, amid overall business contraction, are restructuring their workforce under the banner of “AI transformation,” reducing roles related to research, data organization, and support functions that can be automated, while maintaining or expanding teams directly involved in AI development.
Frequently Asked Questions
Q: What exactly does Messari’s AI transformation entail?
According to Diran Li’s announcement, Messari’s AI transformation centers on using artificial intelligence to automate and scale its existing research and market data analysis capabilities, primarily serving institutional clients. This may include automatically generating research reports, real-time data processing and analysis, and customized client information delivery. From an industry perspective, AI adoption in crypto research is an inevitable path to lower marginal costs and increase coverage, but it also poses a fundamental challenge to traditional business models that rely on human analysts.
Q: What are the main achievements of Eric Turner during his tenure as Messari CEO?
Turner took over as CEO in 2024, focusing on stabilizing the business and expanding institutional clients. He inherited the company’s rebuilding tasks after founder Ryan Selkis resigned due to social media controversies. Turner confirmed he will continue to support the company as an advisor, indicating this leadership change is an orderly internal adjustment rather than a conflict-driven departure.
Q: What does Li’s transition from CTO to CEO mean for Messari’s future direction?
A CTO stepping into the CEO role usually indicates a strategic shift towards a more technology-centric approach. For Messari, which is undergoing an AI transformation, Li’s technical background is likely advantageous for accelerating research automation and AI product development. However, as CEO, he also needs to handle business development, investor relations, and client management. Whether Li can quickly develop business leadership beyond his technical expertise will be a key factor in the success of this transformation.
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