Eigen Labs Cuts 25% of Staff in EigenCloud Focus Eigen Labs Cuts 25% of Staff in EigenCloud Focus

Eigen Labs Cuts 25% of Staff in EigenCloud Focus

Eigen Labs cut its workforce by 25%, losing 29 roles, as CEO Sreeram Kannan said he restructured the company to focus on developing EigenCloud, what he called a “verifiable” alternative to existing, opaque cloud services.

The Seattle-based startup said the dismissals were not a cash-crunch response. The comany is backed by $220 million in venture funding, including a $100 million Series B round led by a16z in February that gave it a $1 billion valuation.

“As difficult as these changes are, they sharpen our focus as a company and ensure our teams are structured to sustainably pursue a single, ambitious goal: 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 separate post.

Employees leaving 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.



Source link

Francisco Rodrigues

https://www.coindesk.com/business/2025/07/09/eigen-labs-axes-25-of-staff-to-focus-on-building-eigencloud

2025-07-09 09:27:37

bitcoin
Bitcoin (BTC) $ 118,274.00 3.37%
ethereum
Ethereum (ETH) $ 4,562.16 3.38%
xrp
XRP (XRP) $ 3.10 5.32%
tether
Tether (USDT) $ 1.00 0.03%
bnb
BNB (BNB) $ 841.94 0.27%
solana
Solana (SOL) $ 194.98 2.86%
usd-coin
USDC (USDC) $ 0.999829 0.00%
staked-ether
Lido Staked Ether (STETH) $ 4,551.20 3.24%
tron
TRON (TRX) $ 0.360113 0.19%
dogecoin
Dogecoin (DOGE) $ 0.224782 7.58%
cardano
Cardano (ADA) $ 0.909002 3.00%
wrapped-steth
Wrapped stETH (WSTETH) $ 5,510.93 3.28%
hyperliquid
Hyperliquid (HYPE) $ 46.20 2.05%
chainlink
Chainlink (LINK) $ 22.61 4.96%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 118,318.00 3.22%
wrapped-beacon-eth
Wrapped Beacon ETH (WBETH) $ 4,899.07 3.63%
stellar
Stellar (XLM) $ 0.426217 5.79%
sui
Sui (SUI) $ 3.76 5.58%
wrapped-eeth
Wrapped eETH (WEETH) $ 4,887.64 3.31%
bitcoin-cash
Bitcoin Cash (BCH) $ 592.05 3.34%
ethena-usde
Ethena USDe (USDE) $ 1.00 0.03%
hedera-hashgraph
Hedera (HBAR) $ 0.250731 5.08%
weth
WETH (WETH) $ 4,562.38 3.30%
avalanche-2
Avalanche (AVAX) $ 23.81 5.80%
litecoin
Litecoin (LTC) $ 121.66 6.43%
the-open-network
Toncoin (TON) $ 3.42 2.48%
leo-token
LEO Token (LEO) $ 9.32 0.87%
shiba-inu
Shiba Inu (SHIB) $ 0.000013 6.66%
usds
USDS (USDS) $ 0.999817 0.01%
binance-bridged-usdt-bnb-smart-chain
Binance Bridged USDT (BNB Smart Chain) (BSC-USD) $ 1.00 0.00%
coinbase-wrapped-btc
Coinbase Wrapped BTC (CBBTC) $ 118,254.00 3.39%
uniswap
Uniswap (UNI) $ 10.93 8.94%
whitebit
WhiteBIT Coin (WBT) $ 45.48 2.67%
polkadot
Polkadot (DOT) $ 4.02 5.00%
okb
OKB (OKB) $ 93.51 8.66%
ethena-staked-usde
Ethena Staked USDe (SUSDE) $ 1.19 0.04%
bitget-token
Bitget Token (BGB) $ 4.56 4.98%
crypto-com-chain
Cronos (CRO) $ 0.154132 7.04%
ethena
Ethena (ENA) $ 0.740391 4.61%
aave
Aave (AAVE) $ 311.96 4.26%
pepe
Pepe (PEPE) $ 0.000011 8.72%
monero
Monero (XMR) $ 247.03 2.85%
dai
Dai (DAI) $ 0.999717 0.05%
mantle
Mantle (MNT) $ 1.11 0.77%
bittensor
Bittensor (TAO) $ 367.09 5.96%
near
NEAR Protocol (NEAR) $ 2.78 6.25%
ethereum-classic
Ethereum Classic (ETC) $ 22.35 6.87%
aptos
Aptos (APT) $ 4.81 3.35%
ondo-finance
Ondo (ONDO) $ 1.01 5.45%
pi-network
Pi Network (PI) $ 0.382994 4.19%