It’s no secret that the cryptocurrency markets this year have made it tough for startups in the sector. One notable example is Consensys, which is aggressively laying off employees thanks to the bear market, with a recent report indicating that the company might be laying off over half of its labor force, after a previous layoff that was also meant to reduce costs.

About Layoffs

Joseph Lubin is a co-founder of Ethereum and a respected figure in the cryptocurrency world, but his Brooklyn startup Consensys has not had the greatest year. He has been open that the company would need to restructure for some time now, stating in December: “We are going to focus much more rigorously across the different business lines on accountability, that includes financial sustainability.”

Lubin himself personally financed much of his own company’s expansion, and recently took to Twitter to express his disdain at all of the doubt and skepticism regarding Consensys. In a recent tweetstorm, he seemed to call the media reports “conjecture and preemptive paranoia”, and emphasized that his company was “healthy”:

TRON Reaches Out

Justin Sun, the founder of TRON, took the chance to reach out to Consensys employees on Twitter and pointed out that there may be a job opportunity with Tron. He stated that Tron was “fast growing” and “well funded”. The tweet garnered over 400 retweets and 1000 likes, and you can find it below:

While the first tweet seemed to be innocuous, Sun took a bit of a more hostile tone in his next tweet regarding the situation. Just hours ago, he tweeted that “Ethereum and Consensys were slowly imploding”, and referred to the layoffs and the price drop in Ethereum as proof.

He seemed to again offer a job opportunity with TRON by ending the tweet with “Don’t go down with the ship!” He even tagged Ethereum founder Vitalik Buterin in the tweet, as well:


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