The cuts affected staff who helped build the blockchain and wallet. The foundation committed $30 million from its treasury to new products. The planned marketplace would let buyers compare pr
MEGA cut 20% of its workforce after months of restructuring, co-founder Shuyao Kong said on November 13. The announcement came three days after the former MegaETH Foundation committed $30 million to new products. Its first planned launch is an AI inference market in December. The project’s token traded near $0.045, up about 7.5% over the preceding 30 days.
In her announcement on X, Kong said departing colleagues helped build the MegaETH blockchain and its wallet. Others supported developers or handled communication. sShe offered to introduce former colleagues to prospective employers.
Over the past few months, we have restructured MEGA to move in a new direction.We’ve brought together new capabilities and reorganized our teams, a process that has resulted in a 20% reduction in our staff. These are people who helped build MEGA from its earliest days (…
— Shuyao Kong (@hotpot_dao) November 13, 2026
Kong said the founders, early employees and core engineers remained committed to the project. She did not disclose how many people lost their jobs or say the cuts would fund the AI initiative.
The foundation adopted the MEGA name on November 10. Its Ethereum Layer 2 network keeps the MegaETH name, and the team plans to build its new products on that network. The $30 million commitment comes from the existing treasury.
Inference is what happens when a trained model processes a request, such as answering a question. The planned market would let buyers choose among providers that can run the same model.
In their white paper, co-founders Yilong Li and Lei Yang explain why a lower price alone may fail to win business. A software developer might stick with a familiar supplier if a cheaper rival cannot verify which model it runs. How that rival handles customer data also matters.
MEGA wants buyers to be able to switch providers once they can verify those claims. Kong said the team would wait until launch to name the providers and models available through the marketplace.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.<p>The post MEGA Cuts 20% of Staff Ahead of December AI Marketplace Launch first appeared on Coin Crypto Newz.</p>
