Company behind MetaMask trims 7% of workforce originally appeared on TheStreet .
ConsenSys, affiliated to Ethereum and the blockchain software company that operates MetaMask wallet, is laying off 47 employees, which is 7% of its staff, as part of a plan to increase profitability.
A company spokesperson confirmed the layoffs and stated that they followed a recent acquisition by the company of a startup with approximately 30 employees, who will remain with the company. As it moves people out, ConsenSys plans to continue hiring in other areas.
In early 2023, the company laid off 11% of its employees, citing macroeconomic pressures and regulatory uncertainty. A year earlier, it laid off 20% of headcount.
However, conditions have changed in the regulatory environment under President Donald Trump's second term, as the SEC this year also dropped its case against ConsenSys, a move the company welcomed.
Joe Lubin, the CEO of ConsenSys and former Chief Operating Officer of Ethereum Switzerland GmbH, has expanded his interests to include chairing SharpLink Gaming Inc.
Join the discussion with Benjamin Cowen on Roundtable here.
The latest restructuring is happening as the crypto industry approaches mainstream capital markets. Following the Circle IPO in June, several companies, including Kraken, Gemini, and BitGo, are reportedly preparing for their own IPOs.
Although ConsenSys has not yet announced an IPO, restructuring the company is typically common in conjunction with transitioning to an IPO.
In a direct conversation with TheStreet Roundtable , a spokesperson from ConsenSys said:
"ConsenSys is continuing its transformation to operate with greater agility, focus, and efficiency. Following the close of our fiscal year in June, we made strategic adjustments impacting 47 roles, 7% of our workforce, to align teams with our highest-priority initiatives. These changes support our path to profitability and growth. We remain well-capitalized with a strong balance sheet."
Company behind MetaMask trims 7% of workforce first appeared on TheStreet on Jul 22, 2025
This story was originally reported by TheStreet on Jul 22, 2025, where it first appeared.
