Crypto Software Company ConsenSys Confirms 11% Cut in Workforce
- All 96 of the impacted employees will be notified Wednesday
- The layoff comes after raising multiple rounds of funding
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Ethereum software company ConsenSys confirmed that it’s eliminating 96 positions, representing 11% of the crypto firm’s total workforce.
The job cuts are the latest amid a wave of layoffs among major digital-asset companies in recent weeks. Coinbase Global Inc. cut 20% of its staff, which is around 950 people, while crypto-friendly bank Silvergate Capital Corp. laid off 40% of its force. Crypto lender Genesis eliminated 30% of employees with another exchange Huobi firing 20%. Trade publication CoinDesk first reported the ConsenSys cuts last week.