What to know:
- Eigen Labs, the Seattle-based startup, has decided to let go of 29 employees, which amounts to 25% of its workforce, in order to focus on developing EigenCloud.
- The company assures that this decision is not due to a cash crunch, but rather a strategic move to reallocate resources. Departing employees will receive supportive severance packages.
- Eigen Labs, backed by $220 million in venture funding, will continue to operate its EigenLayer and EigenDA protocols as part of EigenCloud.
to build the world’s first verifiable cloud platform,” Kannan said in a post on X. “We move forward with a tighter strategy, renewed energy, and a team laser-focused on our mission.”
EigenLayer, the restaking protocol that underpins the project, and its data-availability sibling EigenDA will remain online as part of EigenCloud, Kannan added in a separate post.
Employees leaving the company will receive three months of pay, accelerated token vesting, continued health coverage, and help finding new jobs, he said. He also invited other crypto firms to recruit the departing staff, signaling a wish to keep talent inside the ecosystem.
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2025-07-09 12:58