Fireblocks to lay off 7% of workforce amid Visa acquisition rumors
The Israeli-founded digital asset security company is set to cut 60 to 70 jobs, including dozens in Israel, after rejecting reports that Visa is considering a $2.5 billion acquisition.
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.
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, fintech companies and other financial institutions to store, transfer and manage digital assets. It has also expanded into stablecoin payments and asset tokenization. In 2025 and 2026, the company acquired digital wallet infrastructure provider Dynamic and digital asset accounting and reporting company TRES Finance.
In a statement, Fireblocks said: “As part of a structural change aimed at supporting Fireblocks’ strategic growth, we are parting ways with approximately 7% of our global workforce, including some employees in Israel.
“This is a difficult but necessary decision, designed to best address the evolving needs of the market. Every employee affected by this change is valued by us; we will support them closely, providing an enhanced severance package and assistance for their next steps.”
