MegaETH Cuts 20% of Workforce as It Shifts Focus Toward AI Marketplace

MEGA, the organization behind Ethereum Layer 2 network MegaETH, has reduced its workforce by 20% as it prepares to expand beyond blockchain infrastructure and develop artificial intelligence products. Co-founder Shuyao Kong announced the restructuring on November 13, confirming that employees involved in the blockchain, wallet, and ecosystem teams were affected. The company did not disclose the exact number of positions eliminated, but said its founders, early employees, and core engineering team remain committed to the project. The move comes shortly after the MegaETH Foundation rebranded as MEGA and committed $30 million from its treasury toward developing products on the network. Its first major initiative is an AI marketplace scheduled for December.

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