Algorand Foundation cuts 25% of staff as macro pressure and crypto slump weigh on operations

The Algorand Foundation announced on Wednesday that it is reducing its workforce by 25% in response to the uncertain global macro environment and the broader downturn in crypto markets, making it the latest entity in the digital asset sector to implement cost-cutting measures. The foundation stated the decision was difficult and aims to better align resources with the protocol’s long-term business, technology, and ecosystem priorities, while thanking affected employees and promising support during the transition. This move follows Algorand's recent repositioning, which included moving its headquarters from Singapore back to the US in January for a more favorable regulatory backdrop. Despite the layoffs, the foundation remains committed to its mission of financial empowerment and the continued development of the Algorand protocol, network, and ecosystem, focusing on regulatory clarity, tokenization, and bringing traditional finance onchain.

(Source：Crypto Briefing)