Consensys lays off 20% of workforce, blames SEC's "abuse of power" and regulatory uncertainty.
Consensys, a major supporter of the Ethereum network, is cutting 20% of its workforce due to macroeconomic conditions and regulatory uncertainty, including the SEC's "abuse of power." CEO Joe Lubin criticized the SEC's actions, stating that their attacks will cost many companies millions of dollars. Consensys has been in a legal battle with the SEC after being accused of operating as an unregistered broker through its MetaMask services. Other Ethereum staking services have also been sued.
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