Ethereum development company and MetaMask creator, ConsenSys, layoffs a total of 97 employees, or 11% of the workforce globally.
Consensys, a software industry in Taifang, is known for developing and designing MetaMak wallets, which is one of a new batch of cryptocurrency startups that have laid off staff. On Wednesday, Franz Benson, the company's founder, announced on his blog that he would fire 97 employees, accounting for about 11% of human resources management.
Consensys layoffs apply to staff
According to the report, layoffs are not for all employees who immediately engage in product development; in turn, they focus on those who support their work-their workload has been reduced because of the recent slowdown in the market. The official announcement also mentioned that employees who resign by consensus will receive generous severance compensation according to their working years, and the extended stock index futures performance dialog box varies from 12 months to 36 months. In addition, according to the official announcement, tailor-made support from outside installers will be given and health insurance coverage in available jurisdictions will be expanded.
The report quoted Binsun as saying:
Today, we should make extremely difficult choices and reduce some of Consensys's elite teams to meet the interesting and uncertain market situation. The decision will affect a total of 97 employees, or 11% of Consensys's workforce.
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Lubin attributed the responsibility to CeFi
Lubin said that the breakaway of the cryptocurrency industry is the conclusion of the end of a hot cycle, especially the so-called "CeFi" (centralized financial industry) companies. In addition, Lubin feels that enterprises operating under the mask of cryptocurrency actually lack the core spirit of government procurement process and operation. Referring to the recent success of the intermediary exchange, Mr Lubin claimed that organizations such as travelers and Celsius were irresponsible in their pursuit of perfect profits, often damaging customers in the process-leading to their national subjugation.

Consensys, which is headquartered in New York and employs about 900 people, is just one of many data encryption companies that have been forced to lay off staff since the bear market that has hurt the industry since April. By now, 27000 jobs may have been lost in the entire cryptocurrency sector.