MegaETH
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- In the news by CointelegraphMegaETH cuts 20% of staff as it pursues AI business
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MegaETH cuts 20% of staff as it pursues AI business
Ethereum scaling project MegaETH has cut 20% of its staff as it pivots toward AI business. Total value locked in DeFi on MegaETH fell from over $245 million to $8.8 million, according to the report.
MEGA cuts about 20% of staff days after committing $30M to AI products
MEGA, formerly MegaETH Foundation, reduced its headcount by about 20% on November 13, three days after allocating $30 million from its existing treasury to new products. The cuts affected staff who worked on its Ethereum layer-2 blockchain, wallet and ecosystem, and the company says they followed several months of restructuring. Its largest planned launch is an AI inference marketplace due in December, built on the MegaETH chain.