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An important restructuring process is under way at ConsenSys, an Ethereum production study led by the co-founder of the cryptocurrency Joseph Lubin. The company's transition into the so-called "ConsenSys 2.0" will be an uphill battle, anonymous sources that know the internal operation of the company told to CoinDesk.
According to sources, Lubin's plans to shift the company's attention to external partners and investors may not go as planned due to the "unusual way in which ConsenSys has structured its investments", which has insisted that the firm held at least 50% of the capital for its "spokespersons". The strategy would have dissuaded some investors from financing ConsenSys projects. "A ton of funds and individuals were uncomfortable seeing Joe on the cap table, not to mention [with a] controlling participation, "said one of CoinDesk's sources, a former advisor.
The potential investor problem is not the only dark cloud hanging over ConsenSys – it is said that the studio staff feel very insecure about the job after the latest layoffs, said the anonymous employee at CoinDesk, adding that predicts that the study will end up "approximately one" sixth of its current size. "
