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Crypto

Mega, renamed from MegaETH, cuts 20 percent of staff, shifts focus to AI

Mega, renamed from MegaETH, cut 20 percent of its staff through restructuring as it changes the company’s direction, The Block reported on Thursday. The layoffs affected employees involved in the Ethereum layer-2 blockchain MegaETH, as well as wallet and ecosystem development. Founders, early staff and the core engineering team will remain to continue the project. The MegaETH Foundation also said it will invest $30 million in new products including AI inference.

Crypto

MegaETH hits first KPI by running 10 apps, to issue MEGA token

MegaETH has met its first key performance indicator, which required operating 10 ecosystem applications. The milestone triggered a countdown toward a MEGA token generation event targeted for next Thursday. The project previously tied its token release schedule to performance-based KPIs rather than a fixed timeline. Conditions include expanding its native stablecoin USDM circulation to $500 million and meeting app revenue targets, alongside usage and fee benchmarks for apps built on MegaETH.