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MegaETH foundation renamed MEGA and pledges $30m for new products

NewsFeeds update

The foundation behind Ethereum layer-2 network MegaETH has been renamed MEGA and will commit $30m from its existing treasury to new products, starting with an AI inference marketplace due in December. Co-founder Shuyao Kong says the marketplace targets developers, with suppliers and models to be named at launch.

EthereumChainCatcherAIBullish

Read the original on ChainCatcher

The story so far: MEGA restructuring and $30m pledge

The MegaETH foundation was renamed MEGA and pledged $30m from its treasury to new products, starting with an AI inference marketplace due in December. MEGA has now cut 20% of its workforce in a restructuring, affecting staff who built the blockchain, wallet and ecosystem.

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  1. MegaETH foundation renamed MEGA and pledges $30m for new products

  2. MEGA cuts 20% of staff in restructuring after $30m pledge

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Every update is a short rewrite, by AI in our own words, of a flash from the outlet named on it, credited and linked. Updates are joined into one story by AI; our editors can change a story’s name or take an update out. Not investment advice.