Joseph Lubin talks crypto woes, ConsenSys lay offs

Ethereum co-founder, Joseph Lubin, has called “the cryptobottom of 2018”.

He also addressed reports that major lay offs are coming to ConsenSys. The company, he insisted, remains healthy and is engaging in a rebalancing of priorities and activities which started earlier this year.

“The sky is not falling. From my perspective the future looks very bright. I remain excited about scalability solutions that are available now…Some within ConsenSys whose roles have been eliminated recently are looking to fill other roles at ConsenSys. This is a rebalancing of our activities and workforce,” he tweeted.

The venture continues to invest in external projects and is hiring for internal projects that remain core to its forward looking business. “We actually hired around 15 people in the last week or so, and have job descriptions that we are currently hiring for. We are creating transitions for some projects that we believe don’t fit as well into the ConsenSys 2.0 vision as they did in ConsenSys 1.0, and we are working on ways to continue to support these projects going forward as we sketch plans for a ConsenSys alumni network.”

“What I’ve witnessed among the chattering class the past few weeks in response to @ConsenSys 2.0 is a rather typical tune: the alarmed, the eulogistic, and the gleeful,” Lubin declared.