Eclipse Labs has made key leadership and employee changes as it shifts its focus to building applications on its Layer 2 blockchain network.
On 25th August, the company announced that Sydney Huang, who was previously a product lead at Eclipse, will be the new Chief Executive Officer, following the announced resignation of Vijay Chetty
Alongside this change, the company revealed that it will reduce its workforce by 65%, which was framed as a strategic move to introduce greater agility to the company’s new direction.
Eclipse said that its mission to onboard web2-scale applications onto the blockchain remains intact, but the execution strategy is being altered to prioritize internal product development.
New Leadership to Shepherd Eclipse’s Next Chapter
Sydney Huang, aka @0xSydney on X, joins with over two years of experience at Eclipse, where she served in the roles of product manager and product lead.
Her background also includes product strategy and operations at Unstoppable Domains, venture capital analysis at Dell Technologies Capital, and a contract role at De Labs.
Huang shared her vision in a long X post, pointing out that Eclipse’s future would not be just about building infrastructure but about developing revolutionary apps that bring on board real users and revenue.
He also acknowledged the challenges the team had faced, thanking departing CEO Vijay Chetty for laying the groundwork for Eclipse’s innovations.
Market Conditions Drive Strategic Shifts
In her statement, Huang acknowledged that the crypto space has shifted significantly, so that “interesting technology alone is no longer sufficient, and scale is irrelevant without users.”
Her statement reflects a trend in the blockchain ecosystem where projects are being evaluated not only by technical innovation but also by whether they can create effective, real-world use cases.
By decreasing its team size, Eclipse aims to be more effective, allocating resources to building products that can attract and retain users as well as to continue building its Layer 2 network.
Huang explained that the decision to retrench workers was a matter of shifting priorities and not evidence of team capability.
Also Read: Newly Appointed CEO Gracy Chen Plans To Promote Crypto Adoption Through Bitget
Community and Ecosystem Engagement Still a Priority
When announcing the lay-offs, Huang reiterated Eclipse’s promise to the community, token holders, and ecosystem members:
Huang acknowledged being silent in the past and assured that moving forward, communication and transparency would be enhanced.
Despite the reduction in force, Eclipse will continue to maintain its support for ecosystem partners and infrastructure, while devoting more resources to in-house application development.
Huang dubbed this change “day one” of a leaner, more merciless, Eclipse Labs, focused on developing products that people choose to use every day.
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Leadership Changes Across the Crypto Industry
Eclipse’s leadership change comes amid a wave of senior executive changes across the broader crypto industry.
Earlier this year, UnoCrypto reported that Ethereum-based NFT brand Doodles brought on artist Scott Martin, aka Burnt Toast, as CEO to replace Julian Holguin to re-focus the project on creative authenticity after it had landed deals with Adidas and McDonald’s.
Most recently, on August 19th, we reported that CoinGecko announced some key leadership changes, with co-founder Bobby Ong taking over as CEO, TM Lee stepping into the President role, and Cedric Chan being promoted to the CTO role to consolidate technical operations.
The various changes show an industry-wide realignment, where leadership models are being remodeled to address evolving market demands and the pursuit of long-term sustainability.
Also Read: Goldman-Sachs Backed Blockchain Firm Fnality Seeks New Leader After CEO’s Departure