Consensys, the maker of the popular MetaMask crypto wallet, is cutting over 160 employees across all divisions of the company. Founder and CEO Joe Lubin announced the news in a blog post that attributed the layoffs to headwinds from the macroeconomy as well as legal expenditures from the company's protracted battles with regulators.
"Multiple cases with the SEC, including ours, represent meaningful jobs and productive investment lost due to the SEC's abuse of power and Congress's inability to rectify the problem," wrote Lubin. "Such attacks from the U.S. government will end up costing many companies…many millions of dollars."
