MegaETH, an Ethereum scaling project, has reduced its workforce by 20% as part of a broader strategic pivot toward artificial intelligence (AI) business ventures. This downsizing affects employees involved in key areas such as blockchain development, wallet technology, and the overall ecosystem that supports MegaETH.
According to CoinDesk, the decentralized finance (DeFi) total value locked (TVL) on MegaETH experienced a sharp decrease, falling from over $245 million to approximately $8.8 million. This data point indicates a significant contraction in the DeFi activity within MegaETH’s platform during this restructuring phase.
Cointelegraph reported that the restructuring was confirmed by MegaETH co-founder Shuyao Kong, who noted that the layoffs impacted essential teams responsible for the project’s foundational components.
The exact long-term implications of this shift from blockchain scaling to AI-related projects remain to be seen, and no additional details about the AI business direction were disclosed in the reports.
Sources and attribution
- CoinDesk: Ethereum scaling project MegaETH slashes staff by 20% as it pursues AI business (Nov 14, 2026)
- Cointelegraph: MegaETH parent cuts 20% of staff amid restructuring, AI push (Nov 14, 2026)
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