MegaETH developer MEGA cuts 20% of staff in business restructuring

MEGA, the developer of the Ethereum layer-two network MegaETH, has cut 20% of its workforce as part of restructuring tied to a shift in business direction, The Block reported. The workforce reduction was aimed at supporting the company’s new strategic direction, according to the report. MegaETH had earlier announced a $30 million investment in a new business separate from the network and said it would launch an AI inference marketplace as its first service.