✂️ MEGA, formerly MegaETH, cuts 20% of its staff in a pivot toward AI
MEGA, the organization formerly known as the MegaETH Foundation, has cut 20% of its workforce as part of a restructuring, co-founder Shuyao Kong said on X. The cuts hit staff who built the Ethereum Layer 2 MegaETH blockchain, its wallet and ecosystem, while the founders, early employees and core engineering team remain.
Earlier this week the foundation rebranded as MEGA and committed $30 million to new products, including AI inference. The MEGA token traded around $0.045 at the time of The Block's report.
⭐ A high-profile Layer 2 shrinking its chain team to chase AI shows how hard it has become for new L2s to compete, and how crypto projects are chasing the AI narrative.
#MegaETH #MEGA #Ethereum #Layer2 #AI
MEGA, the organization formerly known as the MegaETH Foundation, has cut 20% of its workforce as part of a restructuring, co-founder Shuyao Kong said on X. The cuts hit staff who built the Ethereum Layer 2 MegaETH blockchain, its wallet and ecosystem, while the founders, early employees and core engineering team remain.
Earlier this week the foundation rebranded as MEGA and committed $30 million to new products, including AI inference. The MEGA token traded around $0.045 at the time of The Block's report.
⭐ A high-profile Layer 2 shrinking its chain team to chase AI shows how hard it has become for new L2s to compete, and how crypto projects are chasing the AI narrative.
#MegaETH #MEGA #Ethereum #Layer2 #AI
