ConsenSys to Lay Off 13% of Staff

People lost their jobs due to “re-focusing of priorities” by the company management
07 December 2018   735

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.

OKEx Ex-CEO to Intend to Raise $40M

Funds are needed for the new exchange called ACDX, which will offer  futures, options, revocable bear/bullish contracts and more
06 February 2020   555

Andy Cheung, who until recently was the operating director of the OKEx cryptocurrency exchange, will open a new derivative trading platform ACDX by the end of the first quarter, CoinDesk reports. The exchange will offer its clients futures, options, revocable bear / bullish contracts, debt contracts and fixed coupon notes.

One of our main goals for the exchange is to provide retail investors with ... structured products that are more commonly used by accredited crypto investors and wealth managers.


Andy Cheung

Former chief operating officer at OKEx

In the future, ACDX plans to reach a global level, but first of all it will gather a client base in Asia, using the connections of Cheung and partners in Hong Kong and China. In preparation for the launch, she intends to raise $ 40 million through the sale of tokens and shares in her business to crypto funds, private investment firms and family capital management companies in Europe and Asia. 

We have over $4 million so far and most of the money comes from our own funds. We are in talks with potential investors and likely to announce new investments in the next two months.


Andy Cheung

Former chief operating officer at OKEx

To date, ACDX has hired more than 25 employees, including eight developers who are preparing the trading platform for launch.