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11/14/2026

MEGA Cuts Staff as Its $30M AI Expansion Takes Shape

What happened: MEGA, formerly the MegaETH Foundation, cut approximately 20% of its workforce, with co-founder Shuyao Kong confirming the restructuring on November 13.

MEGA Cuts Staff as Its $30M AI Expansion Takes Shape

What happened: MEGA, formerly the MegaETH Foundation, cut approximately 20% of its workforce, with co-founder Shuyao Kong confirming the restructuring on November 13. The cuts followed a $30 million commitment to AI services and plans for a public inference marketplace in December 2026, while MegaETH's total value locked had fallen from $245 million in May to approximately $12 million. Kong did not explicitly attribute the layoffs to the AI expansion, leaving the relationship between the staffing decision and product strategy unconfirmed.

Why it matters: The decline in deposited capital makes the AI commitment a question of execution and resource allocation: MEGA is preparing another product while its blockchain ecosystem holds substantially less capital than it did in May. However, TVL measures assets deposited in protocols rather than organizational cash, revenue or runway, so these figures do not establish whether the foundation can afford the commitment. The December marketplace launch will provide a concrete opportunity to assess delivery, although the supplied research does not disclose customer demand or expected revenue.

Sources: Cointelegraph; The Block.