ConsenSys to Lay Off 13% of Staff

People lost their jobs due to “re-focusing of priorities” by the company management
07 December 2018   519

The blockchain startup ConsenSys will fire 13% of the staff. This decision is associated with changes in priorities and future organizational changes, CoinDesk reports.

The head of ConsenSys, Joseph Lubin, announced a new company strategy in early December. In particular, he told staff that ConsenSys will tighten standards for supported startups.

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.

ConsenSys Statement

According to Finance Magnates, citing its own sources, employees of various departments from several regions of the world came under the cuts.

Recall, founded in October 2014, ConsenSys is focused on the development of the ecosystem of the Ethereum network. In October, Joseph Lubin’s company invested $ 6.5 million in a blockchainb startup DrumG. The latter is engaged in the development of a decentralized and cryptographically protected OTC solution for trading operations of investment banks.

Samsung to Invest $2.9M in Ledger

The fact of a round of investments was confirmed by a spokesman for Ledger, but he did not disclose details
25 April 2019   41

The developer of hardware wallets Ledger attracted 2.6 million euros ($ 2.9 million) from the South Korean conglomerate Samsung. The company's investment valuation reached $ 290 million, according to the French edition of Capital.

Thus, the very fact of a round of investments was confirmed by a spokesman for Ledger, but he did not disclose details. Co-founder Eric Larchevêque, who had recently transfered power to the new CEO Pascal Gauthier, also did not shed light on the details of the transaction.

Larchevêque himself will focus on the company's strategy, cooperation with regulators and legal compliance as the executive chairman.

Ledger raised $ 7 million in a round of financing for Series A in early 2017, which was headed by MAIF Avenir, a division of large French insurance company with the support of Xange, Wicklow Capital, GDTRE, Libertus Capital, Digital Currency Group, The Whittemore Collection, Kima Ventures, BHB Network and Nicolas Pinto as an individual investor.

At the beginning of 2018, a round of financing for Series B took place, within which the hardware wallets maker raised $ 75 million. The round was led by Draper Esprit, the other participants were Draper Venture Network, FirstMark Capital, Cathay Innovation and Korelya Capital.