Summary

  • MEGA, the development team behind Ethereum layer-2 network MegaETH, has reportedly cut 20% of its workforce as part of a business restructuring.
  • The report said the MegaETH development team carried out a restructuring as it shifted to a new business direction.
  • MegaETH said it would invest $30 million in a new business separate from its existing network operation and plans to launch an artificial intelligence (AI) inference marketplace as its first service.

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MEGA, the development team behind Ethereum layer-2 network MegaETH, has cut 20% of its workforce as part of a business restructuring.

The Block reported on Nov. 13 that the MegaETH development team carried out the layoffs as it shifts to a new business direction.

The cuts affected 20% of the total workforce and were part of an organizational overhaul tied to that strategic pivot.

MegaETH had previously announced plans to invest $30 million in a new business separate from its existing network operations. It also said it plans to launch an artificial intelligence inference marketplace as the first service under that initiative.

JH Kim