ChainCatcher report, according to The Block, zero-knowledge proof scaling developer StarkWare has announced layoffs and initiated an internal restructuring. Co-founder and CEO Eli Ben-Sasson stated during an all-hands meeting that the company had become "too large" and needed to return to a "startup mode" to accelerate product-market fit. The exact number of layoffs and timeline have not been disclosed, but the company has pledged to provide severance packages exceeding legal requirements. Following the restructuring, StarkWare will be divided into two independent business units: one, led by current CPO Avihu Levy as general manager, focused on revenue-generating applications and developing monetizable products on its own tech stack; and the other, led by current product lead Tom Brand, dedicated to Starknet development. Each unit will have its own dedicated engineering, product, and marketing teams. Strategically, StarkWare plans to fully control its entire blockchain proof technology stack—including Cairo, Sierra, and post-quantum STARK cryptography—reducing reliance on external Layer 1 blockchains and application teams. Ben-Sasson stated that the company will shift from "doing many things well" to "doing a few things exceptionally well," focusing exclusively on high-potential, high-value initiatives only StarkWare can deliver. Additionally, COO Oren Katz has submitted his resignation and will officially depart at the end of April.
StarkWare Announces Layoffs and Restructures into Two Business Units
ChaincatcherShare
Summary
StarkWare announces layoffs and splits into two business units as CEO Eli Ben-Sasson drives a return to startup mode. The company will focus on controlling its in-house tech stack, led by CPO Avihu Levy and Tom Brand. COO Oren Katz will step down by April. Amid market volatility impacting the Fear & Greed Index, investor sentiment toward altcoins to watch may shift as major crypto projects adjust their strategies.
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.