ethereumNovember 15, 2026
MegaETH developer cuts 20% of staff in restructuring
MEGA, the organization behind the L2 project MegaETH, has carried out a restructuring and cut 20% of its staff. The project's co-founder Shuyao Kong announced the move. The exact number of people laid off was not disclosed.
The cuts affected employees working on the blockchain, wallet, ecosystem support and communications. At the same time, MEGA is developing applications built on its network, including AI-based services. $30 million has been allocated for these initiatives.
In December the team plans to launch an open platform where users will be able to choose between providers of services for processing requests to AI models.
For those who hold or exchange cryptocurrency, the news means the team of one L2 project is changing, and the project itself is shifting part of its resources toward applications and AI services.