Due to current market conditions, Fuel Labs has made the difficult but necessary decision to reduce headcount by ~30%.
While this wasn’t easy, it’s a strategic step to sharpen focus, streamline execution, and stay on track with our roadmap.
Since 2019, we’ve navigated many challenging markets, and we’re now optimizing our resources to ensure we continue delivering on our goals.
For those impacted, we’re committed to supporting a smooth transition:
• Extended compensation beyond contractual agreements
• A contact list for those opting into recruiting support
• Multiple recruiting firms ready to assist
This decision strengthens our ability to stay flexible, execute on key initiatives, and invest in the critical work ahead.
The team will be focused on future success, continuing to push innovation for blockchain technology, and the strength of our team will drive us forward.
If you’re a project founder, recruiter, or hiring manager seeking exceptional talent in Rust, blockchain, marketing, or ops, please reach out to: [email protected]
Top Web3 talent isn’t job hunting—they’re being hunted. Struggling to hire? Message us below for a confidential chat:
https://t.co/fOyqArcBvQ
Let’s fix that. 🥷
If you’re a Web3 Founder who’s just secured funding and wants to scale the right way, I’ve put together a short article to help you navigate the process.
Check it out here or ping me on here for a chat.
https://t.co/LieJgRnkIs
#Web3Founders#BlockchainStartups#Crypto
On memecoins…
Memecoins have generated a lot of buzz recently, and I’ve gotten some questions on how I think about them. I am personally not a memecoin trader (beyond a few test trades), but they’ve become hugely popular. Arguably, they've been with us since the beginning – Dogecoin is still one of the most popular coins. Even Bitcoin is somewhat of a memecoin (one could argue so is the U.S. dollar, once it was disconnected from gold). Just like the early days of the internet with animated gifs, new technologies often look like a toy but evolve into something much more powerful over time. So we should be open minded about where memecoins are going, even if some are silly, offensive, or even fraudulent today. Memecoins are a canary in the coal mine that everything will be tokenized and brought onchain (every post, image, video, song, asset class, user identity, vote, artwork, stablecoin, contract etc).
Coinbase differentiates itself by being the most trusted and easiest to use platform in crypto, so how are we approaching memecoins through this lens? From first-principles, we believe in free market capitalism. If our customers want it, and it's legal, we aim to let them make that choice for themselves. But it's our job to provide them with the best information we can find to make an informed choice. If a token is a scam or fraudulent, we'd want to remove it. But if it's just low quality, the customer should be able to see reviews or community notes, and make their own choice. (Defining what is an outright scam vs low quality is often a blurry line btw, so you need to be careful not to accidentally create a censorship regime.) We want to provide useful information to consumers, not play judge and jury or endorse/recommend investments.
Some memecoins have clearly gone too far lately, to the extent people are insider trading. This is illegal, and people should understand that you will go to prison for this. In every crypto cycle, there is a get rich quick crowd that comes and goes, and learns this lesson the hard way. Don't break the law! And don't try to get rich quick. You should get rich by contributing real lasting value to society (or at least be trying - it's not easy!).
So where do we go from here? We should purge the bad actors and lift up the people trying to build lasting value. We want to bring the next billion users onchain, and the only way to do this is to build products and services which people want. Help them earn a living, avoid high fees when sending money to friends and family, find truth about what's happening in the world, or get a loan to grow their business. Give them access to sound money and financial infrastructure, to accelerate progress in the world. Memecoins have a role to play here, and I think will evolve to help artists get paid, track trends, or who knows what - it's too early to say, but we should keep exploring.
Keep building with this long term mindset, and make something people want.
"We do not run from risk. We run to it. We are taking the risk to move beyond the boundaries of the game industry to reach new players and current players."
Satoru Iwata, 4th President and CEO of @NintendoAmerica.