ConsenSys cuts 11% of employees

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ConsenSys, the company behindpopular MetaMask wallet and Infura platform, lays off 96 people - 11% of the total number of employees - due to “uncertain market conditions.”

According to the CEO of ConsenSysJoseph Lubin said "poor behavior" by some centralized companies has led to "a significant burden on the cryptocurrency ecosystem that must be addressed collectively." Reducing employees will help the company focus on its core business.

Monthly wallet user baseMetaMask reaches 30 million people. However, this is only a small part of the general population, so ConsenSys management emphasizes that the adoption of cryptocurrencies is too low so far.

“We are still in a situation where this new technology is not fully understood by the general public,” said Lex Sokolin, director of cryptoeconomics at ConsenSys.

Sokolin believes that one of the driversthe adoption of cryptocurrencies will be the development of Web3 - when each user has his own avatar in the metaverses and social networks move into them, then there will definitely be a need to make financial transactions. And this is where digital assets come to the rescue.

It was previously reported that ConsenSys plans to lay off 100 people.