{
  "id": 19945919,
  "title": "MegaETH parent cuts 20% of staff amid restructuring, AI push",
  "url": "https://urgent.news/2026/11/14/megaeth-parent-cuts-20-of-staff-amid-restructuring-ai-push",
  "topic": "ai",
  "section": "AI",
  "published": "2026-11-14T08:12:30.000Z",
  "source": {
    "name": "Cointelegraph",
    "slug": "cointelegraph",
    "url": "https://cointelegraph.com/news/megaeth-parent-cuts-20-percent-staff-ai-push"
  },
  "original_language": "en",
  "account": "MegaETH co-founder Shuyao Kong announced that the company has reduced its workforce by 20% as part of a restructuring effort. The organization behind the Ethereum layer-2 network MegaETH is shifting its focus towards developing AI products. Kong stated that the restructuring affected employees involved in building the project's blockchain, wallet, and ecosystem. However, she did not disclose the number of staff affected or the exact timing of the layoffs. Kong emphasized that the founders, early employees, and core engineering team remain committed to the organization. The company has allocated $30 million for AI initiatives and plans to launch a public inference market in December.",
  "summary": "MegaETH co-founder Shuyao Kong said the restructuring affected employees who helped build the project’s blockchain, wallet and ecosystem.",
  "key_points": [
    "MegaETH reduces workforce by 20% in restructuring",
    "Co-founder Shuyao Kong focuses on AI product development",
    "$30 million allocated for AI initiatives and public inference market launch"
  ],
  "editors_take": "Prioritizing artificial intelligence over core blockchain development signals a fundamental shift in the company's strategic identity as it reallocates resources toward emerging machine learning markets.",
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}