MegaETH team MEGA lays off 20% of staff, says it will pivot to a new direction

November 13: According to The Block, Shuyao Kong, co-founder of MEGA, the team behind Ethereum layer-2 network MegaETH, said MEGA has laid off 20% of its staff as part of a restructuring to pivot to a new direction. MEGA was renamed from the MegaETH Foundation this week and has committed $30 million to develop new products, with the first being an AI inference market planned to launch in December.