Bankless Co-Founder David Hoffman Sells Entire ETH Position as Reports of Deep Layoffs Emerge

Bankless is a cryptocurrency media brand focused on Ethereum and decentralized finance. Co-founder David Hoffman has long been publicly bullish on ETH, giving his portfolio moves considerable symbolic weight. His complete exit signals a change in his personal investment strategy and has prompted renewed scrutiny of Bankless’ brand positioning and operating condition.

Hoffman recently confirmed that he had sold all his ETH, describing the move as marking the end of Bankless’ “first era.” The reports did not disclose the actual sale date, the amount of ETH sold, the average transaction price or the total value. Around the same time, former employees alleged that the company had laid off most of its team without warning. As of July 19, 2026, Bankless had not disclosed the full number of layoffs or its plans for the organization.