[MegaETH Team MEGA Lays Off 20% of Staff, Says It's Moving Towards a New Direction] According to The Block, Shuyao Kong, co-founder of MEGA, the team behind the Ethereum Layer 2 network MegaETH, stated that MEGA has laid off 20% of its staff as part of a restructuring to shift its focus. MEGA, which was just renamed from the MegaETH Foundation this week, has pledged $30 million to develop new products, the first being an AI inference marketplace planned for launch in December.