Ethereum Co-Founder Blasts SEC While Laying Off 20% of Staff
- CEO Lubin cites economic, regulatory uncertainty for job cuts
- Decentralized finance exchange dYdX cuts headcount 35%
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Consensys, a software provider for the Ethereum network being sued by the SEC, blamed regulatory uncertainty caused by the agency in part for its decision to eliminate 162 positions, or 20% of its workforce.
Headed by one of Ethereum’s co-founders, Joseph Lubin, New York-based Consensys cited broad macroeconomic conditions as well. Ether, the native token of the network, is the second-largest cryptocurrency by market value after Bitcoin.