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StarkWare cuts staff in push toward revenue-generating products
TL;DR
StarkWare is cutting jobs and restructuring to focus on revenue-generating products. CEO Eli Ben-Sasson announced a split into two units, aiming for faster operations and higher revenue potential.
Key points
- StarkWare is cutting jobs to focus on revenue-generating products
- The company will split into two business units
- CEO Eli Ben-Sasson announced a shift to a 'startup mode' mindset
- Job cuts are part of a broader trend in the crypto industry
- StarkWare did not disclose the number of affected employees
Zero-knowledge scaling company StarkWare is cutting jobs and restructuring its operations as it shifts from infrastructure development toward revenue-generating products.
CEO Eli Ben-Sasson said in internal remarks that the firm will split into two business units and cut headcount to move faster and operate more efficiently, with one unit focused on applications and the other on Starknet development.
Ben-Sasson said the company would adopt a “startup mode” mindset, prioritizing fewer initiatives with higher revenue potential, while warning that downsizing would affect employees across the organization. StarkWare did not disclose how many employees would be affected by the cuts.
The move reflects a wider retrenchment across crypto firms, which have been trimming headcount and narrowing priorities as they chase clearer product-market fit, stronger monetization and leaner operations. Messari, Algorand Foundation and Crypto.com all announced cuts in March.
Source: Eli Ben-Sasson
StarkWare says technical edge must translate into revenue
Ben-Sasson said StarkWare’s next phase would center on turning its technology into “meaningful revenue” and “meaningful usage,” arguing that the company could no longer rely mainly on external blockchains or third-party teams to prove the value of its stack.
Ben-Sasson said the company would focus on “fewer things excellently” and prioritize products with revenue potential that can be built only on its technological stack.
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“We’re going to achieve this by innovating across not just infrastructure, as we’ve done so far, but across the whole stack of infrastructure and product,” he said.
Crypto layoffs continue as firms tighten strategy
StarkWare’s cuts follow other recent layoffs across the crypto sector as firms narrow priorities and reshape operations. On March 17, Messari announced layoffs alongside a leadership change as the company moved deeper into research and data tools for institutions.
Q&A
Why is StarkWare cutting jobs?
StarkWare is cutting jobs to restructure its operations and shift focus from infrastructure development to revenue-generating products.
What changes is StarkWare implementing in its business structure?
StarkWare will split into two business units, one focused on applications and the other on Starknet development, adopting a 'startup mode' mindset.
How does StarkWare's job cuts relate to the broader crypto industry?
The job cuts at StarkWare reflect a wider trend in the crypto industry, where firms are reducing headcount and narrowing priorities to achieve better product-market fit and monetization.
