The latest crypto news centered around the topic of blockchain feature the major blockchain software technology company ConsenSys and its apparent plans to cut its staff. As the technology outlet Verge first reported yesterday, ConsenSys is spinning out startups it previously backed – some of which are now without financial support at all.
This could impact the ConsenSys workforce and especially its internal incubator ConsenSys Labs. The source said that the number of employees could be laid off to anywhere between 50% and 60% of the 1,200 person workforce that the company employs.
The CEO of ConsenSys, Joseph Lubin, reportedly said:
“We must retain, and in some cases regain, the lean and gritty startup mindset that made us who we are.”
The CEO did not however deny any upcoming layoffs and said that it is discussing the situation with every project to “determine a path forward, whether that will be internally as a part of ConsenSys 2.0, or as an external entity.”
However, the source claims that the situation is different:
“The world has not collapsed as [Lubin] planned, and so he needs to pivot his company because it was orchestrated for a vision only where Ethereum would be $10,000.”
Ethereum (ETH) and other major cryptocurrencies crashed on November 14th with seminal cryptocurrency Bitcoin (BTC) dropping below the $5,600 price point for the first time in 2018.
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