ConsenSys confirms 11% staff cut

Quick Take

  • ConsenSys said that it laid off 11% of its staff, confirming earlier reports.
  • The company will be focusing its “business on the core value drivers,” founder Joseph Lubin wrote in a statement.

Blockchain software company ConsenSys has laid off about 11% percent of its staff.

The round of cuts affected a total of 96 employees, the firm said in a statement on Wednesday, confirming reports from last week.

"Our current bear market also coincides with a very challenging macroeconomic environment driven by surging inflation, lagging economic activity, and increased geopolitical unrest," said ConsenSys founder Joseph Lubin.


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Going forward, ConsenSys will be streamlining the company and focusing its "business on the core value drivers," such as a MetaMask end-user and developer platform and Infura’s developer platform.

"Some of the poorly behaved CeFi actors in our space have brought a reckoning on themselves which has cast a broad pall on our ecosystem that we will all need to work through," Lubin also said. "Ultimately this will be a net positive for the ecosystem."

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About Author

Catarina is a reporter for The Block based in New York City. Before joining the team, she covered local news at and at the New York Daily News. She started her career in Lisbon, Portugal, where she worked for publications such as Público and Sábado. She graduated from NYU with a MA in Journalism. Feel free to email any comments or tips to [email protected] or to reach out on Twitter (@catarinalsm).


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