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Ethereum Software Firm ConsenSys to Cut Upwards of 100 Staff
CoinDesk estimates nearly 27,000 jobs have been lost across the crypto industry since April, based on media reports and press releases.
ConsenSys, the developer of the crypto wallet MetaMask, plans to lay off 100 staffers or more, according to a person familiar with the matter.
The New York City-headquartered Ethereum studio currently has about 900 employees. The planned cuts are understood to be in the process of being finalized, and the exact number is not known at this point, said the person.
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It’s adding to what's already a bad week for crypto employment, with U.S. exchange Coinbase also announcing cuts of 20% of its staff, or around 950 jobs, on Tuesday. CoinDesk estimates nearly 27,000 jobs have been lost across the industry since April of last year.
ConsenSys declined to comment.
Ian Allison
Ian Allison is a senior reporter at CoinDesk, focused on institutional and enterprise adoption of cryptocurrency and blockchain technology. Prior to that, he covered fintech for the International Business Times in London and Newsweek online. He won the State Street Data and Innovation journalist of the year award in 2017, and was runner up the following year. He also earned CoinDesk an honourable mention in the 2020 SABEW Best in Business awards. His November 2022 FTX scoop, which brought down the exchange and its boss Sam Bankman-Fried, won a Polk award, Loeb award and New York Press Club award. Ian graduated from the University of Edinburgh. He holds ETH.
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