MEGA Completes Restructuring, Lays Off 20% of Staff

MegaETH co-founder Shuyao Kong stated that MEGA has completed its restructuring and is moving in a new direction. During the restructuring process, 20% of the staff were laid off, with departing employees having previously participated in public chain, wallet development, and ecosystem support. The founders, early employees, and core engineering team will remain with MEGA. The team believes that cryptography and distributed systems will change the way the world produces and acquires intelligence. The MegaETH Foundation has been renamed MEGA and will allocate $30 million from its existing treasury to develop new products, with the first product being an AI inference service marketplace scheduled to launch in December.

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