PANews reported on October 29 that according to Fortune, Ethereum infrastructure giant and MetaMask wallet developer Consensys announced a 20% layoff, involving more than 160 employees. Consensys founder and CEO Joe Lubin said in a blog post that the layoffs were caused by macroeconomic pressures and legal disputes with regulators. He pointed out that the U.S. Securities and Exchange Commission (SEC)'s enforcement of the digital asset industry has led to the loss of a large number of jobs and investments, saying that the SEC's "abuse of power" was an important reason.
Since its founding in New York in 2014, Consensys has been committed to the development of Ethereum-related infrastructure. In recent years, regulatory uncertainty has seriously affected its development, especially the ongoing lawsuit with the SEC. Lubin said that layoffs will involve all departments of the company and provide generous severance packages including career support and medical insurance.
