Key Takeaways
- Consensys is shedding 49 workers, about 7% of its workforce, as a part of a push for profitability.
- The US SEC has dropped its case towards Consensys amid modifications within the nation’s regulatory surroundings.
Share this text
Consensys, the corporate behind the favored crypto pockets MetaMask, is contemplating slicing about 7% of its workforce because it refocuses priorities and reallocates assets following the acquisition of Web3Auth, in response to a new report. The anticipated layoff would have an effect on 49 workers.
Consensys intends to retain workers from its newly acquired software company whereas including extra roles.
The restructuring follows Consensys’ earlier spherical of layoffs in October 2024, when the corporate cut 20% of its workforce, equal to 160 roles, citing macroeconomic pressures and ongoing authorized battles with the SEC. On the time, Consensys stated it was pivoting towards a extra decentralized mannequin to scale back regulatory publicity.
Earlier this 12 months, the SEC dropped its investigation into the corporate. The dismissal, made by way of a joint stipulation, formally ended the civil enforcement case filed in mid-2024.
Consensys CEO Joe Lubin, one among Ethereum’s co-founders, lately helped launch SharpLink Gaming, the place he serves as chairman of the board.
The publicly traded firm has aggressively collected the second-largest crypto belongings. It’s now the world’s largest company holder of Ethereum, holding 360,807 models.
Share this text
