MegaETH Developer MEGA Cuts 20% of Workforce in Restructuring
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.