$83,954.00
2.17%$1,863.81
2.86%$2.14
2.68%$608.30
2.15%$127.60
2.78%$1.00
0.01%$0.170746
4.47%$0.673767
4.59%$0.233716
0.08%$1,861.49
2.77%$83,845.00
2.37%$4.11
4.37%$13.97
5.67%$9.35
2.81%$0.272544
2.69%$19.44
4.26%$2,237.14
3.17%$0.999762
-0.03%$2.39
7.70%$0.00001275
4.86%$0.168281
5.10%$4.19
4.15%$84.21
2.41%$6.28
0.44%$312.00
4.54%$4.60
3.85%$1,860.29
2.65%$0.999454
-0.04%$0.999744
0.01%$0.705813
0.59%$13.49
5.90%$1,978.81
2.85%$28.29
0.28%$217.98
1.04%$6.12
4.05%$5.35
2.91%$0.00000751
6.82%$2.63
3.56%$1.045
0.03%$48.21
1.25%$22.60
2.39%$0.100968
2.35%$83,917.00
2.09%$33.48
0.82%$0.790384
0.88%$5.41
4.34%$0.997539
-0.10%$16.91
1.47%$0.800264
4.24%$165.84
6.25%$1.17
0.21%$10.19
0.90%$0.02306005
2.66%$4.45
3.85%$227.14
4.67%$1.00
0.00%$3.63
7.17%$0.355378
1.38%$2.87
4.23%$3.11
-1.62%$83,879.00
2.11%$0.203424
0.08%$0.067151
5.19%$4.02
-0.07%$0.509742
7.94%$0.186275
5.19%$0.333814
2.67%$10.93
-1.33%$83,642.00
1.86%$0.473741
4.51%$0.750523
1.75%$4.68
-4.83%$0.42031
-5.96%$1,934.44
2.66%$1,336.85
3.14%$1,861.99
2.69%$0.069041
1.14%$1.071
2.13%$0.685522
8.53%$132.86
2.38%$71.07
4.96%$0.409848
0.91%$0.998045
-0.16%$0.787703
2.33%$0.533628
0.44%$0.622985
2.43%$2,105.01
2.55%$0.00001173
6.33%$0.99767
0.01%$8.90
3.15%$0.09079
4.44%$0.999341
-0.03%$0.173473
1.57%$0.839195
4.28%$0.01369895
1.14%$1.00
0.02%$0.88994
3.40%$7.31
9.16%$3,167.32
0.16%$13.00
-26.23%$82,604.00
1.06%$607.48
1.95%$0.999881
0.05%$2.35
5.51%$1,974.78
2.42%$0.01581081
4.10%$0.52912
16.29%$0.664551
2.74%$3,151.59
0.28%$83,597.00
1.91%$0.275181
2.17%$1.00
0.03%$0.524409
15.21%$0.00000066
0.11%$32.22
3.27%$0.172755
2.89%$39.43
3.02%$1.00
0.05%$163.13
2.38%$0.389448
2.89%$0.104193
2.18%$1.94
-1.16%$0.00005923
2.55%$1,937.96
2.62%$3.06
0.58%$7.35
9.15%$139.99
2.84%$0.01112691
5.03%$16.15
3.89%$0.999862
0.06%$0.144998
3.48%$0.075378
0.06%$0.51535
30.77%$1.77
5.26%$0.650865
4.49%$0.497822
1.22%$0.997335
-0.00%$0.530399
26.75%$1.77
7.01%$82,846.00
2.13%$2.97
2.43%$0.999987
0.03%$1.00
0.00%$0.249338
1.73%$2.86
12.59%$16.34
2.24%$27.89
-0.97%$0.00488212
13.94%$0.152751
1.61%$1,975.04
2.52%$0.170338
4.21%$0.705743
2.10%$48.18
24.06%$0.397185
-7.24%$0.00000043
0.87%$83,940.00
2.23%$0.425639
-0.16%$1.19
6.56%$1.00
0.05%$6.41
1.68%$0.0440144
5.12%$83,478.00
0.09%$1,861.38
2.64%$1.001
0.10%$1.081
-0.06%$0.080638
1.11%$110.52
0.02%$1,860.30
2.63%$1,862.63
2.71%$0.00001985
0.75%$1.094
-0.57%$0.483523
2.59%$0.588269
0.40%$5.38
7.69%$1,940.85
2.64%$83,718.00
2.21%$0.00708059
0.67%$0.00653346
5.67%$0.181817
6.53%$0.204469
0.47%$0.446373
2.22%$0.854699
0.37%$0.375171
3.22%$0.999171
-0.03%$1.001
-0.23%$1,869.79
3.56%$1,890.37
3.14%$0.00531191
-3.99%$0.583719
0.76%$0.00006004
0.18%$0.00387951
1.48%$0.99703
-0.42%$0.00000157
-2.13%$1.50
9.08%$0.03193404
6.00%$120.30
0.62%$2.76
1.29%$0.03078625
0.72%$0.00910546
-3.92%$1,842.31
2.98%$0.241907
1.47%$1.24
4.16%$1,864.47
2.81%$0.247959
3.53%$3.67
1.21%$1.16
0.42%$0.00046883
32.25%$0.637047
3.01%$22.60
3.45%$2.88
1.89%$83,881.00
2.31%$0.999083
-0.02%$1,977.80
3.58%$0.192797
2.75%$16.15
3.40%$3,131.52
0.61%$83,647.00
1.84%$2,036.95
2.80%$0.259632
1.32%$0.510508
3.26%$0.750325
-0.72%$1.044
1.48%$2,021.39
2.76%$0.066669
0.82%$0.108166
3.74%$0.999053
-0.02%$0.117874
0.90%$0.00325554
7.14%$0.00270828
8.48%$0.533592
8.44%$0.03451598
0.42%$0.08116
-2.48%$1,860.22
2.92%$0.02971148
1.26%$1,685.32
2.13%$0.00225747
-0.28%$20.71
3.66%$0.289556
-1.04%$0.01146937
2.80%$0.922995
0.33%$0.02943289
1.60%$0.085067
10.24%$0.527567
2.94%$0.649589
4.38%$0.00474193
2.13%$0.00241903
2.06%$2.17
-0.69%$3.71
7.99%Reading
Matter Labs, the company behind Ethereum scaling network ZKsync, announced on Tuesday that it laid off over 16% of its staff, in the latest contraction to shake up the crypto industry.
Alex Gluchowski, the company’s co-founder and CEO, announced the move publicly, calling it “the hardest change” he’s had to implement in Matter's six-year history.
“Our market environment and business needs have changed significantly over the course of this year,” Gluchowski tweeted, explaining the decision. “We went through a large org planning exercise, and it became clear that the talent and roles we have today do not perfectly match our needs.”
Affected employees were already notified of their termination, which in no cases had to do with job performance, per the CEO.
I just sent this message to the Matter Labs team:
===
Today, I’m sharing the hardest change we had to make in the 6-year history of Matter Labs. We are restructuring the organization and parting ways with many amazing team members (~16% of the team). We’ve already reached out…
— Alex G. (∎, ∆) (@gluk64) September 3, 2024
A Matter Labs spokesperson confirmed to Decrypt that the layoffs impacted 24 employees, putting the company’s total headcount at 126. Blockworks first reported the news.
The spokesperson declined to elaborate on which departments were impacted by the layoffs. Matter Labs is still hiring for engineering, business development, and operational roles that Gluchowski described as “critical.”
Former employees will also receive exit packages including three months of pay, four months of health care, full vesting of company shares through the effective termination date, and career support, according to Gluchowski.
Ethereum co-founder Vitalik Buterin said Tuesday that the Ethereum Foundation pays him an annual salary of around $140,000, as the organization centered around Ethereum’s developers and researchers prepares a new spending report amid public scrutiny of its budget. The Canadian programmer helped establish the Swiss-based nonprofit in 2014, which supports Ethereum’s ecosystem through research, grants, and events. Regarded as one of the crypto industry’s centric visionaries, Buterin sits on the Eth...
Matter Labs framed the layoffs as a necessary step given changing demands from teams building on ZKsync, one of the myriad Ethereum scaling networks that have launched in recent years, aiming to entice users with cheap gas fees and speedy transaction times.
In that crowded field of layer-2s and sidechain scaling networks, which includes heavy hitters like Coinbase’s Base, Polygon, Arbitrum, and Optimism, among many others, it appears Matter Labs is rethinking how to best position itself.
In June, the company announced the Elastic Chain, a means to allow the growing number of teams building custom chains on top of ZKsync to move smoothly (interoperably) across them all.
On Tuesday, Gluchowski emphasized that the launch of the Elastic Chain pushed Matter Labs to re-evaluate its overarching strategies, goals, and team composition. This indicates that the company may be moving away from marketing itself as a general purpose Ethereum scaler—and towards supporting more niche and case-specific uses—as a means to stay competitive.
Edited by Andrew Hayward
A member of the California State Assembly has introduced an amendment to a recently introduced money transmission bill that would protect the ability of state residents to use cryptocurrencies as a means of payment. First introduced by Democrat Senator Laura Richardson on February 20 as the Money Transmission Act, the bill had been concerned primarily with requiring digital wallet providers operating in California to “take certain actions” to ensure the security of their products, including the...
OpenAI said Monday it has secured an additional $40 billion in funding to support research and development, as the tech powerhouse looks to strengthen its lead in the artificial intelligence sector. Japanese conglomerate SoftBank led the funding round, as well as contributions from other investors, including longtime partner Microsoft, OpenAI said in a blog post. Decrypt has reached out to learn more. OpenAI Plans to Release ‘Open-Weight’ Model with Reasoning Capabilities The announcement comes...
Donald Trump Jr. and Eric Trump have teamed up with Bitcoin mining heavyweight Hut 8 to launch American Bitcoin, a new industrial-scale mining firm that plans to become the “world’s largest and most efficient Bitcoin miner.” Announced on March 31, the venture was born out of a strategic deal in which Bitcoin mining company Hut 8 contributed the majority of its mining hardware to American Data Centers Inc., a company backed by the Trump sons. The firm was then rebranded as American Bitcoin—a majo...
