Consensys, one of the main supporters of the Ethereum network, is laying off 20% of its workforce, blaming broader macroeconomic conditions and ongoing regulatory uncertainty, including the SEC “abuse of power” in the space. “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,” founder and CEO Joe Lubin said in a blog post. Consensys, the maker of the MetaMask wallet, has been in an ongoing battle with the financial regulator after it alleged the firm of operating as an unregistered broker.
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