Consensys announces 20% layoffs

BlockBeats News: On October 29th, Consensys, the developer of the cryptocurrency wallet MetaMask, announced a 20% layoff involving approximately 160 employees. The company's founder and CEO, Joe Lubin, announced the news in a blog post, attributing the layoffs to macroeconomic headwinds and legal expenses from the company's long-term struggle with regulators. Consensys previously sent an open letter to future US presidents, calling for clear and supportive regulations on cryptocurrency and Web3. The letter points out that regulatory rulings need to be transparent in order for the United States to maintain competitiveness globally while addressing consumer protection and illegal activities.