ConsenSys, the parent company behind MetaMask, is letting go of 11% of its workforce, with CEO Joseph Lubin blaming “uncertain market conditions” brought on by recent collapses.
In a blog post from ConsenSys CEO Joseph Lubin on Jan. 18, the blockchain firm CEO said “poorly behaved” centralized finance (CeFi) actors have cast a “broad pall on our ecosystem that we will all need to work through.”
Lubin said the decision will impact 96 employees and is part of plans to focus its resources on its core businesses.
Today we need to make the extremely difficult decision to streamline some of ConsenSys’ teams to adjust to challenging and uncertain market conditions.
In his latest post, Lubin said the company will be focused on streaming its workforce and focusing its business on core value drivers, including end-user custody solution MetaMask, developer platform Infura, and “new offerings” that grow Web3 commerce and decentralized autonomous organization (DAO) communities.
