50 Cut as $60 Million Blockchain Project Nebulas Lays Off 60% of Staff

The company behind the Nebulas blockchain project has gone from a team of 80 people to just 30, CoinDesk has learned.

After gaining attention in August for its decision to delay its token distribution, including holding onto founder tokens for a period of 10 years, the company has undergone a series of layoffs that have seen peripheral elements of its roadmap shelved, at least pending a recovery in the market for Nebulas’ NAS token.

“One of the reasons was the market price kept going down,” Becky Lu, a spokesperson for the company, told CoinDesk.

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