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Fortune
Fortune
Jeff John Roberts

Ethereum builder ConsenSys axes 97 staff, founder Lubin says balance sheet 'very solid'

ConsenSys Joe Lubin Joseph Lubin Ethereum Crypto
ConsenSys founder Joe Lubin (Credit: Steven Ferdman/Getty Images)

ConsenSys, an Ethereum-focused software company best known for its flagship MetaMask wallet, is the latest crypto company to trim its payroll. On Wednesday, founder Joseph Lubin published a blog post announcing 97 layoffs—11% of the firm's staff.

In an interview with Fortune, Lubin said the cuts did not target any product staff but were instead aimed at people employed in supporting functions whose workloads have diminished during the industry downturn. (Coindesk reported rumors of the layoffs last week.)

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