Ava Labs, the company that developed the Avalanche blockchain, said it has laid off 12% of its employees due to the bearish trend in the cryptocurrency market. This will help the company allocate its resources more intelligently.
Emin Gün Sirer, founder and CEO of Ava Labs, said the company’s downsizing will allow it to devote the necessary resources to the development of the Avalanche ecosystem.
“Bear markets are difficult to navigate. We are fortunate to have what is known as a runway and resources at our disposal