Polygon Labs confirmed its second round of layoffs for 2026 on the same day that 1inch co-founder Anton Bukov announced his firing in November 2025. These developments highlight a growing trend in the cryptocurrency industry where companies are prioritizing commercial viability amidst ongoing market challenges.

Recent Layoffs and Company Transformations

CEO Marc Boiron stated that Polygon Labs is transitioning from a blockchain foundation to a payments-focused entity, aiming for profitability by 2027. This strategy has led to multiple workforce reductions, including around 100 positions cut in 2023 and another 60 in 2024. This January, the company laid off approximately 60 more employees following its acquisition of Coinme, a payments firm.

Boiron emphasized that the layoffs reflect a strategic shift rather than a sign of poor performance, assuring that severance and career support are provided to those affected. The ongoing acquisition of Coinme is expected to enhance Polygon's operational capabilities, further solidifying its position in the payment sector.

1inch Co-Founder's Departure

Meanwhile, Anton Bukov, who played a key role in 1inch's development, revealed he was let go despite holding a significant equity stake in the company. His departure raises questions about the management dynamics within the DEX aggregator as it navigates its own restructuring phase.

On the operational front, Polygon is reporting significant growth in its on-chain activities. The stablecoin supply on Polygon has reached $3.36 billion, with transaction volume hitting a record $9.12 billion in June. Visa's recent addition of Polygon to its stablecoin settlement program marks a notable endorsement of the platform's capabilities.

As Polygon continues to adjust its workforce and business model, it is also encouraging innovation among remaining staff. The Polygon Foundation CEO, Sandeep Nailwal, mentioned that a third of the team was recently tasked to create AI projects, resulting in 13 new initiatives within just three days.

This content is for informational purposes only and does not constitute financial advice.