MegaETH Developer MEGA Cuts 20% of Workforce in Restructuring
JH Kim
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.
Forecast Trend Report by Period
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
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