According to Odaily Planet Daily, Yuga Labs is undergoing a corporate restructuring, which led to the layoffs of some team members on Friday. Co-founder Greg Solano has posted a memo announcing the company's restructuring on social media since taking over as CEO in February. Solano said that this was a very difficult decision and he was determined to change Yuga Labs and return the company to its original intention. He also pointed out that Yuga Labs had "lost its way" and would focus on building a smaller, more flexible, and more crypto-native team in the future.