Ethereum development studio ConsenSys is restructuring to cut costs in response to the crypto bear market.
“We must retain, and in some cases regain, the lean and gritty startup mindset that made us who we are. We now find ourselves occupying a very competitive universe…We must recognize that what got us here will probably not get us there, wherever ‘there’ is.” ~ ConsenSys CEO Joseph Lubin
The New York-based blockchain startup will eliminate underperforming projects and will refocus on creating tangible value. No layoffs are currently planned, although they are not ruled out either.
Projects will now be judged on ROI, benefit to Ethereum ecosystem, and social good.