Polygon Labs has cut staff for the second time in 2026, and 1inch co-founder Anton Bukov has publicly stated he was fired from the project, as the crypto industry continues to restructure operations around profitability rather than growth at all costs.
Polygon Labs CEO Marc Boiron announced the layoffs as part of the company’s transition from a blockchain-focused foundation into a payments-oriented business. The restructuring comes alongside the final stages of Polygon’s $250 million acquisition of Coinme, a Bitcoin ATM operator, and Sequence, a crypto wallet infrastructure provider. The company is aiming to turn a profit by 2027.
The layoffs are the company’s second round in 2026, reflecting the broader trend of crypto firms tightening belts after years of aggressive hiring during the bull market. Polygon is shifting its focus toward payment infrastructure and stablecoin applications rather than core blockchain development, marking a significant strategic pivot for one of Ethereum’s largest layer-2 networks.
Separately, 1inch co-founder Anton Bukov revealed that he was fired from the decentralized exchange aggregator, disputing the project’s official account of his departure. Bukov, who was a core contributor to 1inch’s architecture and security, said he was no longer involved with the project as of December 2025. He has since launched a new DeFi venture called Second Tier.
1inch confirmed Bukov’s departure but pushed back on the characterization that he was fired, saying his role was part of a team effort and that he was never an employee who could be terminated. The public dispute highlights the governance challenges that can arise in decentralized projects where contribution roles and employment relationships are not always clearly defined.
Both cases illustrate the difficult transition crypto companies are navigating as they move from a period of easy funding and rapid expansion to one focused on sustainable revenue and clear business models. The industry’s pivot toward profitability is forcing difficult decisions about headcount, strategic direction, and personnel that were often deferred during the boom years.
This article was adapted from BeInCrypto. Read the original here.
