StarkWare, a prominent player in the blockchain space, is restructuring into two independent business units and implementing job cuts due to a dramatic 99% decline in revenue from its Starknet network. This revenue drop, which saw figures fall from nearly $6 million in late 2023 to approximately $48,000 in early 2026, has prompted CEO Eli Ben-Sasson to pivot the company's focus from Ethereum scaling to developing in-house, revenue-generating products that are difficult for competitors to replicate. In a recent town hall, Ben-Sasson outlined the need for StarkWare to leverage its technological strengths to create meaningful revenue streams. The company will establish a new Applications unit, led by researcher Avihu Levy, which aims to develop high-revenue products with minimal dependency on external blockchains. This shift comes amid an industry-wide decline in Layer 2 fee revenue, exacerbated by Ethereum's EIP-4844 upgrade in March 2024. Despite the revenue challenges, Starknet's Total Value Locked (TVL) remains above $200 million. Ben-Sasson noted the current landscape as a 'winter' for blockchain, marked by a vacuum in leadership affecting major cryptocurrencies like Bitcoin and Ethereum.