Consensys plans to lay off 49 employees, about 7% of its total workforce

PANews reported on July 22 that according to Bloomberg, Consensys, a software company led by one of the co-founders of the Ethereum blockchain, plans to lay off 49 employees, about 7% of its total employees. The reorganization is aimed at boosting the company's profitability. Consensys recently acquired a startup with about 30 employees, who will remain in office and the company will continue to recruit new employees. Consensys laid off 20% of its employees last year due to regulatory uncertainty and the macroeconomic environment. At present, the regulatory environment of the US crypto industry has become more relaxed due to President Trump's re-election, and Consensys ' lawsuit against the US Securities and Exchange Commission has been withdrawn. Some crypto companies are adjusting their business structures to prepare for initial public offerings ( IPOs ).