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.
