MEGA cuts about 20% of staff days after committing $30M to AI products
- Severity
- Low
- Sources
- 1
What happened
MEGA cut around 20% of staff on November 13, three days after allocating $30 million from its existing treasury to new products, mainly an AI inference marketplace due in December on the MegaETH chain. Co-founder Shuyao Kong attributed the cuts to several months of restructuring, with founders, the first employees and core engineers retained. MegaETH DeFi TVL was about $9.8 million on November 13, down from a peak above $245 million, while the MEGA token traded near $0.045 against an April high of roughly $0.209. Watch the December launch, supplier and model disclosures, and the planned network upgrades for faster finality.
For experienced traders · Written by AI from 1 source · Wrong?
What to do
- Watch for the December launch of MEGA's AI inference marketplace to see whether developers and suppliers adopt it.
- If you use the MegaETH network, note the planned upgrades for quicker transaction finality.
Written by AI from the sources, checked against them
Full story timeline · 1 update
Who reported · 1 outlet
Who and what is in it
Products