MegaETH’s parent entity and affiliated organization are reducing their workforce by 20%, according to multiple crypto outlets, as they restructure and pursue AI-related business. The changes follow a rebrand and a stated push into AI inference products.
CoinDesk links the job cuts to the project’s scaling efforts and says MegaETH’s DeFi performance has declined sharply, with total value locked falling from more than $245 million to $8.8 million. Cointelegraph says MegaETH co-founder Shuyao Kong describes the restructuring as affecting employees involved in building the project’s blockchain, wallet and ecosystem. The Block frames the layoffs as occurring shortly after the organization’s rebranding and alongside a $30 million AI inference initiative.
Overall, the outlets broadly agree on the central points: a 20% staffing reduction, a restructuring effort, and an AI push. The main differences are the specific context each outlet emphasizes—declining DeFi metrics versus timing around rebranding and the scale of the AI spending.
