NEBULAS CUTS MORE THAN HALF OF ITS STAFF
Engaged in the development of the Nebulas blockchain platform, the startup has cut its own staff from 80 employees to 30. The company has gone through a series of cuts, in the process of abandoning the peripheral elements of its roadmap, at least until the recovery of its NAS token rate.
The NAS token, which was released on the ICO for $2 and reached a peak above $14 in January last year, today costs about $0.57 and has a capitalization of $26 million, which is why it is already outside the top 100 on CoinMarketCap.
The company’s spokeswoman Becky Lu did not specify whether the decision to cut was directly dictated by funding problems. A few months before the start of this process, Nebulas raised $60 million.
According to Lu, the reserves of the project will be enough to ensure its operational activities over the next two years and further progress in accordance with the roadmap.
“The team has mostly completed technological developments, so this year our main task will be to organize community management and consensus to achieve full decentralization,” she added.
Previously the abbreviations on the background of reducing the cryptocurrency market said companies such as Steemit, ConsenSys, Bitmain and ShapeShift.