Ethereum scaling project MegaETH slashes staff by 20% as it pursues AI business
Ethereum scaling project MegaETH cut 20% of its staff as it pivots toward an AI-focused business. DeFi total value locked on the network fell sharply from over $245 million to $8.8 million, a steep drop in on-chain activity. Traders should watch whether the layoffs and strategy shift signal weakening confidence in the project's DeFi ecosystem.