ConsenSys to Lay Off 13% of Staff

People lost their jobs due to “re-focusing of priorities” by the company management
07 December 2018   126

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.

ICOs to Lose Popularity, Diar Research Say

Diar assumes that in the future unregulated ICOs won't attract significant attention
11 December 2018   31

Although since the beginning of this year, ICO-startups have managed to raise over $ 12.2 billion, the November figure was only $ 65 million, according to data from a new study of the Diar portal.

According to analysts, the once popular method of financing, which allowed startups to attract tens and hundreds of millions of dollars in the absence of any product, exhausted itself against the background of fears about regulators' actions and the general dynamics of the cryptocurrency market, which did not leave retail investors with anything except for an unpleasant aftertaste.

This version is also supported by the data from the TokenData portal, which Diar leads in his research. Even with respect to the October levels, which constituted only a small fraction of what could be collected a few months ago, the November figures were 3 times lower.

Diar assumes that in the future unregulated ICOs as we have known them over the past years will no longer attract significant attention and will give way to regulated platforms of tokenized securities.