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Crypto

Ethereum layer2 developer OP Labs cuts 20 jobs to focus on core strategy

OP Labs, the developer supporting Ethereum layer2 scaling network Optimism, carried out an internal restructuring to strengthen its strategic focus, CoinDesk reported. CEO Jing Wang said on X that the company cut 20 employees. Wang said the move was not due to financial issues and that OP Labs has sufficient capital. OP Labs develops layer2 technology to speed transactions and reduce fees. OP token fell about 3 percent over 24 hours after the announcement.

Crypto

Ethereum layer 2 Optimism signals new enterprise strategy

Ethereum layer 2 project Optimism signalled a move away from its strategy of mass‑producing partner chains based on the OP Stack. CEO Jing Wang said the approach lacked focus and failed to match market shifts. Optimism plans to reposition itself to allow enterprises greater economic control, though detailed methods were not disclosed. The project gained attention during the 2020–2021 period of high Ethereum fees but later faced rising costs due to strategic gaps and rapid hiring.