MEGA, the organization formerly known as the MegaETH Foundation, has cut 20% of its staff as part of a broader restructuring and strategic shift toward building proprietary products. Co-founder Shuyao Kong confirmed the changes on November 13, 2026.
The layoffs primarily affected teams working on early chain development, wallet development, and ecosystem support. Core founders and the engineering team remain intact.
Product pivot and funding allocation
MEGA has allocated $30 million from its existing treasury to develop new products on the MegaETH network. The first initiative is a public AI inference marketplace scheduled to launch in December 2026, designed to connect buyers and sellers of computing work while leveraging MegaETH's underlying technology to increase competition and transparency.
The organization rebranded from MegaETH Foundation to MEGA to reflect this shift from network steward to product builder. The company framed the strategy around what it calls "purified intelligence," which uses cryptography to enhance AI inference trustworthiness.
Network challenges
MegaETH's total value locked (TVL) peaked above $245 million in May 2026, shortly after the MEGA token listed on exchanges on April 30, 2026. TVL has since declined to approximately $12 million.
Implications for token holders
The restructuring presents both opportunity and risk for MEGA token holders. The $30 million commitment demonstrates leadership's willingness to invest resources in developing use cases that could drive network activity. However, the 20% staff reduction occurs as the team takes on new product development, and the elimination of ecosystem support roles may complicate efforts to attract external builders to the platform.
