Consensys, the firm behind the popular crypto wallet MetaMask, has laid off more than 160 employees, affecting 20% of its workforce. According to founder and CEO Joe Lubin, this decision was driven by macroeconomic challenges and high legal costs due to regulatory battles.

Lubin criticized the SEC for its "abuse of power," noting that its actions have resulted in significant losses and hindered investment in blockchain. Consensys assures support for the affected employees.

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