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Yes, it appears Chia Network has suffered an IPO setback, and as a result, has had to lay off 26 of its employees. This is yet another indication of the continued difficulties faced by companies in the face of a bear market, as many businesses struggle to remain afloat and financially secure. It remains to be seen how this setback will affect the disrupted IPO plans of Chia Network, and what the long-term ramifications of the layoffs will be.