US EditionStarkWare cuts jobs in reorganization as Starknet revenue plunges 99% from peak
The company will create a new Applications unit and cut staff as Starknet monthly revenue falls to about $48,000, according to DefiLlama.
- StarkWare announced a restructuring into two business units and staff cuts on Tuesday, driven by a more than 99% collapse in Starknet revenue since its $6 million peak in late 2023.
- Ethereum's EIP-4844 upgrade in March 2024 slashed Layer 2 fee revenue across the board, with Starknet's competitors equally impacted by the industry-wide pressure on transaction fees.
- CEO Eli Ben-Sasson told employees the firm must convert its "technological superiority" into "meaningful revenue," prioritizing products with "immense potential revenue" over broad experimentation.
- StarkWare is launching a revenue-focused Applications unit led by researcher Avihu Levy, who recently published a paper on Quantum Safe Bitcoin, or QSB, for quantum-resistant transactions.
- Despite the revenue decline, Total Value Locked remains above $200 million; Ben-Sasson indicated further strategic details will arrive next week.
13 Articles
13 Articles
Starkware Cuts Jobs as Starknet Revenue Collapses
Starkware is restructuring and cutting staff after Starknet revenue fell more than 99% from its peak. The company is shifting focus toward building its own revenue-generating products. Key Takeaways: Starkware revenue fell from close to $6 million in 2023 to $48 in April 2026, forcing layoffs and restructuring. EIP-4844 cut Starknet fees, compressing income despite […]
StarkWare downsizes workforce as it pivots from infrastructure to product-driven strategy – #CryptoUpdatesGNIT
StarkWare is laying off staff and restructuring its operations as the firm pivots from infrastructure toward building its own revenue-generating products, co-founder Eli Ben-Sasson announced in a social post on Monday. I am sharing here a message I shared with the StarkWare team following things I said at an All Hands meeting: ========StarkWare is adapting its strategy, with a clear goal – to lead blockchain. So far, we’ve secured our position …
StarkWare fires staff after Starknet revenue collapses 98%
The CEO of StarkWare, the once-$8 billion Israeli company behind Ethereum-based blockchain Starknet, announced layoffs and a full corporate restructuring today. Monthly revenue on its flagship network has collapsed more than 98% from its peak. In November 2023, Starknet’s on-chain revenue peaked near $5.8 million within a single month. This month, it is on track for approximately $100,000. In other words, the network that once generated $187,00…
StarkWare Cuts Staff and Splits Into Two Units to Drive Revenue Focus.
StarkWare, the Israeli company behind the Ethereum scaling network Starknet, is restructuring by reducing its workforce and splitting into two business units. CEO Eli Ben-Sasson has acknowledged the company had grown “too large” for its current commercial reality. Revenue on its Starknet network has fallen more than 99% from a late-2023 peak. Specifically, monthly network The post StarkWare Cuts Staff and Splits Into Two Units to Drive Revenue F…
Coverage Details
Bias Distribution
- 100% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
