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Algorand ALGO Foundation Cuts 25% of Staff Amid Crypto Market Downturn

Algorand ALGO Foundation Cuts 25% of Staff Amid Crypto Market Downturn

Author:

Global Cryptocurrency

Published:

2026-03-19 11:46:45

16

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[TRADE_PLUGIN]ALGOUSDT,ALGOUSDT[/TRADE_PLUGIN] Algorand ALGO News -

The Algorand Foundation, which oversees the Algorand layer-1 blockchain, has cut 25% of its workforce amid ongoing turbulence in the crypto markets. Leadership described the layoffs as a necessary realignment with updated operational priorities, pointing to global economic challenges and a prolonged sector downturn. While exact numbers were not disclosed, departing employees were noted as highly skilled.

Algorand, founded by Turing Award winner Silvio Micali, launched in 2019 with the goal of delivering enterprise-grade blockchain scalability. Its native token, ALGO, has fallen 98% from its all-time high of $3.56 and is currently trading below $0.10. The foundation's restructuring reflects a broader industry pullback as projects contend with evaporating valuations and reduced capital inflows.

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