In May, Web3 startup, Mara fired its marketing team, months after laying off 50% of its staff. Sources claim that the most recent layoffs are unrelated to money problems.
Web3 startup Mara has laid off employees twice in the past six months. The first layoffs in December, coincided with the resignation of a co-founder Kate Kallot and the collapse of crypto exchange FTX, sister company of Alameda Research, one of Mara’s investors. The startup told TechCabal that the job cuts had nothing to do with the crash of the exchange. But the second round of layoffs, which happened last month, is contentious. While one report described a pattern of frivolous spending, a source told TechCabal that the startup restructured the team with a renewed focus on existing users, launching other projects that will drive crypto adoption in Africa.
Former employees who spoke to TechCabal said the first layoffs were about cost reduction. A source with knowledge of the situation told TechCabal,…
