Ethereum layer-2 developer OP Labs cuts roles to 'narrow focus'

Finance Share Share this article Copy link X icon X (Twitter) LinkedIn Facebook Email Ethereum layer-2 developer OP Labs cuts roles to 'narrow focus' The firm plays a central role in the development of Optimism, an Ethereum layer-2 scaling network designed to make transactions faster and cheaper by processing activity off the Ethereum main chain. By Margaux Nijkerk | Edited by Nikhilesh De Mar 12, 2026, 4:19 p.m. Make us preferred on Google What to know : OP Labs laid off 20 employees as part of a restructuring its CEO said was aimed at narrowing its strategic focus, stressing that the move reflects a refocus on core priorities rather than concerns about financial runway. The company said it informed affected staff internally before announcing the move publicly, and encouraged other teams in the crypto ecosystem to reach out about hiring the departing employees. OP Labs, the main developer firm supporting the Optimism ecosystem, has laid off 20 employees as part of an internal restructuring aimed at sharpening the organization’s strategic focus, according to a message shared by the group's leadership. In a post on X , CEO of OP Labs Jing Wang said the decision followed internal discussions with affected staff and was communicated to employees before being disclosed publicly. The company said the layoffs were driven by a need to “narrow our focus,” rather than financial constraints. “This is not about finances,” she said in a Slack message she shared alongside her post. "OP Labs is well capitalized with years of runway." Instead, she suggested that the move was intended to streamline decision-making and "do fewer things ... exceptionally well." The OP token i s down roughly 3% over the last 24 hours. OP Labs plays a central role in the development of Optimism, an Ethereum layer-2 scaling network designed to make transactions faster and cheaper by processing activity off the Ethereum main chain. The broader Optimism ecosystem now includes several high-profile chains built on its technology stack, including Coinbase’s Base, Uniswap’s Unichain and Sony’s Soneium. CoinDesk reached out to OP Labs for comment and to clarify the percentage of staff that was laid off. Read more: Optimism's OP token falls after Base moves away from the network's 'OP stack' in major tech shift Optimism foundation Optimism More For You Alleged Ponzi scheme victims sue JPMorgan for banking supposed $328 million scam By Olivier Acuna | Edited by Nikhilesh De 31 minutes ago The proposed class action suit said Chase provided “the essential banking infrastructure” for Goliath Ventures’ alleged fraud, despite red flags it claims made the scheme “obvious.” What to know : Investors in Goliath Ventures have filed a proposed class action in federal court in Northern California accusing JPMorgan Chase of enabling a $328 million crypto Ponzi scheme by ignoring clear warning signs. The complaint alleges JPMorgan was Goliath’s sole bank, processing about $253 million in deposits between January 2023 and June 2025 and facilitating transfers to Coinbase and purported investor returns that should have revealed the fraud. The suit cites the recent arrest of Goliath operator Christopher Alexander Delgado on wire fraud and money laundering charges and argues that JPMorgan’s role contradicts CEO Jamie Dimon’s public criticism of cryptocurrencies. Read full story Latest Crypto News Here is what $100 oil means for Bitcoin network 22 minutes ago Alleged Ponzi scheme victims sue JPMorgan for banking supposed $328 million scam 31 minutes ago Bitcoin holds $70,000 level as surging oil prices and credit issues have stocks tumbling 38 minutes ago Cathie Wood's Ark Invest says quantum computing is a long-term risk for bitcoin, not an imminent threat 52 minutes ago Prediction markets get tailored U.S. guidance from former foe CFTC 53 minutes ago Vitalik Buterin says Ethereum should be used as a simple digital bulletin board 54 minutes ago Top Stories BlackRock debuts staked ether ETF as demand grows for yield in crypto funds 4 hours ago Tether invests in Ark Labs to make Bitcoin ready for stablecoins and payments 3 hours ago Bitcoin selling intensifies across all wallet sizes despite price holding near $70,000 1 hour ago Crypto code commits fall 75% as developers move to AI projects 9 hours ago Bitcoin climbs the wall of worry amid escalating Iran war and stock market losses 5 hours ago Strategy’s STRC buys an estimated 7,000 bitcoin this week, but Two Prime CEO warns ‘no free lunch’ 5 hours ago