Crypto

MetaMask Maker Consensys Cuts 20% Workforce, Faults SEC’s ‘Abuse of Power’

Consensys, a key player in the Ethereum network, has made the difficult decision to reduce its workforce by 20%. The company cites challenging macroeconomic conditions and regulatory uncertainties as the main reasons behind this move. Consensys specifically points to the Securities and Exchange Commission’s (SEC) actions in the cryptocurrency space, accusing the regulatory body of abusing its power.

Despite these challenges, Consensys remains committed to supporting the Ethereum network and the broader cryptocurrency community. The company has been a driving force behind the development and adoption of Ethereum, and this workforce reduction is part of its efforts to navigate the current regulatory landscape.

While the news of layoffs is never easy, Consensys is confident that these changes are necessary to ensure the company’s long-term sustainability. By streamlining its workforce and focusing on key priorities, Consensys aims to emerge stronger and more resilient in the face of ongoing challenges.

Carmen Brooke Martin

Finance Analyst Hello, my name is Carmen Brooke Martin and I am an expert finance journalist with a master's degree from New York University in Business and Economics. I'm passionate about helping startups spread the word, discover and promote great projects in the crypto and fintech industry. What I am working on is to provide basic cryptocurrency education and benefits to the crypto community through video tutorials and written content. As a business developer, I help crypto projects structure and create a whitepaper that can stir investors' interest, advice on marketing strategies and promotions.

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