Wu News has learned that Obol Labs, a blockchain developer, co-founder Oisin Kyne has announced his appointment as CEO. At the same time, the company has cut approximately 30% of its team to extend its cash runway in response to a potentially prolonged bear market and high-interest-rate environment. Oisin stated that the conversion cycle for institutional clients is relatively long, but they have very high requirements for security and risk-adjusted returns. The Ethereum staking market will also follow this pattern. The company said that this adjustment aims to ensure its long-term goal of providing secure infrastructure for the Ethereum economy.