The tech and crypto industries are experiencing a wave of downsizing at the beginning of 2021.
ConsenSys, the Ethereum software firm behind the crypto wallet MetaMask, is joining in on the trend by reportedly planning to lay off at least 100 of its 900 employees.
A ConsenSys spokesperson declined to comment on the matter. This news comes after Coinbase, the largest crypto exchange in the U.S., announced their plans to let go of 950 employees, and Huobi, a Seychelles-based crypto exchange, is planning a 20% reduction in its headcount.
Digital Currency Group’s subsidiary, Genesis Global Trading, also announced a 30% staff reduction last week after a 20% cut in August of 2020.