MEGA, the renamed MegaETH Foundation, has cut 20% of its workforce, according to co-founder Shuyao Kong. The disclosure came days after the project committed $30 million to new products, starting with AI inference. Kong did not say how many people the percentage represents.
MEGA, formerly MegaETH, has cut 20% of its workforce in a restructuring meant to shift the company in a new direction, according to an X post from Kong. The Defiant reports that Kong said on Nov. 13 the foundation had reduced its staff as it expands beyond blockchain development.
Who left and who stays
The cuts affect employees who helped build the Ethereum Layer 2 MegaETH blockchain, wallet and ecosystem, The Block reports. The founders, early employees and core engineering team remain committed to the project.
However, Kong described a restructuring that took place over the past few months, without specifying when jobs were cut or how many people the percentage represented, according to The Defiant. Kong's statement also did not say whether the December launch schedule or the $30 million commitment would change.
A pivot to AI inference
The announcement followed a rebrand three days earlier, when the foundation became MEGA and committed $30 million to new products on MegaETH. MEGA's announced next step is a public AI inference marketplace on MegaETH in December 2026.
According to The Block, Kong said: "We have a lot to prove, and a lot of work ahead." The Defiant quotes him saying on Nov. 10 that staying a chain-only company felt wrong.
The MEGA token launched in April after the team hit its first performance milestone, with 53.3% of the supply tied to KPI-based staking rewards. The token trades around $0.045 at publication time, up about 7.5% over the past 30 days.
Sources: The Block, The Defiant
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