ConsenSys, the Ethereum software firm behind cryptocurrency wallet MetaMask, plans to lay off at least 100 employees, CoinDesk reported on Wednesday citing a source familiar with the matter.

See related article: Coinbase to cut 20% of its remaining workforce

Fast facts

  • ConsenSys, headquartered in New York, has about 900 employees, according to its LinkedIn page.
  • A ConsenSys spokesperson declined to comment on the matter.
  • The downsizing wave in tech and crypto has extended into 2023, with Coinbase, the largest cryptocurrency exchange in the U.S., announcing on Tuesday that it planned to let go of around 950 employees, or about 20% of its current workforce.
  • Seychelles-based crypto exchange Huobi also plans to cut its headcount by 20%, according to a Reuters report last week.
  • Genesis Global Trading, a wholly-owned brokerage subsidiary of Digital Currency Group, announced a 30% staff reduction last week to stay afloat with 145 employees, adding on to a 20% downsizing in August last year, according to a separate CoinDesk report on Friday.

See related article: Crypto exchange Huobi latest firm to slash staff: Reuters