NEAR Foundation will reduce its team by approximately 40%, but its financial position remains strong
The financial situation of the NEAR Foundation remains strong and well-managed, with over $285 million in legal currency, $305 million in NEAR (worth over $900 million), and $70 million in investments and loans. In addition, the NEAR Foundation will reduce about 40% of its team, affecting 35 colleagues, mainly in marketing, business development, and community teams. The NEAR Protocol engineering team at Pagoda will continue to operate as usual.
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