Two months after ConsenSys cut 14% of staff in a round of layoffs, the axe has struck once again at Joe Lubin’s Brooklyn-based Ethereum venture studio. On April 20, the company announced another 14% reduction in headcount, this time attributed to the coronavirus pandemic downturn. That’s about 90 people. “Like most of its peers, ConsenSys is seeing extraordinary uncertainty in the market, with businesses rebalancing priorities and reevaluating timelines,” a spokesperson told Modern Consensus via email. “In such an environment, we must make changes to conserve resources and ensure our continued ability to support our customers, drive innovation, and serve the broader ecosystem.” Adding that “no particular areas that were…
It was only a matter of time until the MakerDAO lawsuit appeared. On April 14 the Maker Foundation was hit with a $28 million class action suit after the “Black Thursday” crypto crash last month at exposed fundamental flaws in its decentralized lending platform.
The co-founder of Firefox parent Mozilla, Eich’s stated aim is to “fix the internet” with Brave—and part of this plan involves paying users in crypto. A share of advertising revenue is distributed to users who agree to view ads in the form of Ethereum-based Basic Attention Tokens. This digital asset can then be cashed in or used to reward content creators on platforms such as YouTube and Twitch.
The Maker Foundation's decentralization announcement came hot on the heels of a post-Black Thursday debt crisis that threatened to force an emergency shutdown of the MakerDAO decentralized lending platform. That was resolved a day earlier by a reverse auction following a series of votes by MKR token holders.