Cybersecurity

StarkWare fires staff after Starknet revenue collapses 98%

Ali NematiApr 1325 sec read12 views0 listens

StarkWare, the Israeli blockchain company behind Ethereum's Starknet, has announced significant layoffs and a corporate restructuring due to a 98% collapse in monthly revenue. This drastic reduction from $5.8 million peak revenue to approximately $100,000 highlights the challenges faced by layer 2 networks in attracting usage and generating fees, impacting developers relying on stable blockchain infrastructure for their projects.

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