Blocknative Lays Off a Third of Staff, Extends Runway to Over 3 Years Amid Crypto Winter
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Blocknative, a provider of Ethereum blockchain tools, cut its staff by a third, reducing headcount to 24.
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The layoffs come after Blocknative suspended work on its Relay project amid the crypto winter.
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CEO Matt Cutler said the restructuring extends Blocknative's runway to over 3 years.
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The cuts follow Blocknative's decision to exit its MEV-Boost Relay service after it failed economically.
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Blocknative will continue other services like mempool explorer and gas estimators, and plans new services this year.