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It seems that the current bear market will leave its mark on the history of the cryptocurrency industry. This time the issue affected ConsenSys, a crypto-related company, where massive layoffs just around the corner.

According to anonymous but frequent reports, the ConsenSys employees have received an email from the Founder & CEO of ConsenSys — Joseph Lubin.

As it says, Lubin in his message paid attention to words like “refocusing priorities” in order to modernize the company’s architecture.

Lubin sent an email approximately to 1,200 employees on Friday night. He also described the possible layoffs as the vision for what “ConsenSys 2.0.”

The upcoming staff cuts are quite ambiguous given the fact that earlier ConsenSys acquired American asteroid mining company Planetary Resources and invested approximately $6.5 million in the startup of the former top manager of R3 Tim Grant, DrumG.

Moreover, earlier, ConsenSys created the “ConsenSys Grants” program, which will be focused on supporting ethereum (ETH) infrastructure projects.

How the company will get out of this situation, we'll know soon enough.


The ConsenSys representatives have confirmed CoinDesk the plan of massive layoffs:

"Excited as we are about ConsenSys 2.0, our first step in this direction has been a difficult one: we are streamlining several parts of the business including ConsenSys Solutions, spokes, and hub services, leading to a 13% reduction of mesh members."

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