Consensys is restructuring its workforce, laying off 49 employees while adapting to a more favorable regulatory environment and focusing on profitability.
Consensys is laying off 49 employees, about 7% of its workforce, to enhance profitability. This follows a previous layoff of 20% last year due to regulatory uncertainties. The SEC has dropped its investigation into Consensys, allowing the company to refocus its priorities. Consensys recently acquired Web3Auth and plans to retain its employees while continuing to hire in other areas. The firm is also exploring new revenue opportunities as the crypto regulatory landscape improves.