MEGA, previously recognized as MegaETH, has eliminated 20% of its personnel as part of an organizational overhaul designed to pivot the enterprise toward a fresh strategic path, based on a post on X by co-founder Shuyao Kong.
The reductions impact staff members who contributed to the development of the Ethereum Layer 2 MegaETH blockchain, wallet, and surrounding network, whereas the founders, original staff, and principal engineering division stay fully dedicated to the initiative.
“We maintain that cryptography and decentralized networks will transform how global society generates and reaches refined intelligence,” Kong stated. “We face much to validate and significant labor remaining.”
Earlier this week, the MegaETH Foundation transitioned its brand to MEGA and allocated $30 million toward fresh offerings, featuring artificial intelligence inference.
“We are convinced that cryptocurrency stands as the singular innovation capable of rendering AI equitable and transparent,” Kong expressed to The Block.
The MegaETH group deployed the MEGA asset in April following the achievement of its initial efficiency milestone, with 53.3% of the total circulating allocation linked to performance-metric staking incentives.
The MEGA cryptocurrency changes hands near $0.045 at the time of writing, showing an increase of about 7.5% through the preceding 30 days.
Originally published at https://www.theblock.co/news/business/2026-11-13-megaeth-mega-layoffs-20-percent-restructuring-440206.
