Restructuring at Eigen Labs Triggers Workforce Reductions
2025-07-09 23:01:28
Main Idea
Eigen Labs, the company behind Ethereum restaking protocol EigenLayer, has restructured its staff despite significant investments and the launch of EigenCloud, reflecting broader trends of workforce reductions in the crypto sector.
Key Points
1. EigenLayer has over $12.2 billion in Total Value Locked (TVL) but recently cut a significant portion of its staff, offering severance packages.
2. CEO Sreeram Kannan announced the restructuring on X, stating that departing employees will remain supported by Eigen Labs.
3. The restructuring follows a $70 million investment in EIGEN tokens from Andreessen Horowitz (a16z), enabling the launch of EigenCloud.
4. EigenCloud integrates data availability (EigenData), general computing (EigenCompute), and dispute solving (EigenVerify) into a single platform.
5. The crypto sector has seen similar workforce reductions in 2025, with companies like Kraken and Binance also cutting staff to streamline operations.
Description
With over $12.2 billion in Total Value Locked (TVL), EigenLayer is one of the leading Ethereum (ETH) restaking protocols. Despite this, the company behind it, Eigen Labs, has recently cut a significant portion of its staff to prioritize different areas. Although accompanied by a nice severance package, this turn of events is not unfamiliar to the crypto space lately. What Caused The Shift In a post on X yesterday, Sreeram Kannan, the CEO of Eigen Labs, shared the unfortunate news. Today is one o...
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