Algorand Foundation Lays Off 25% of Staff Amid Market Downturn

The Algorand Foundation has reduced its workforce by 25%, attributing the decision to the “uncertain global macro environment” and the broader downturn in cryptocurrency markets. The Foundation described the affected employees as “best-in-class contributors” and stated its commitment to supporting them during the transition. Despite the layoffs, the Foundation reaffirmed its dedication to the long-term development and growth of the Algorand protocol and ecosystem, aiming for a more sustainable resource alignment. This move is part of a wider trend of workforce reductions in the crypto industry, with companies like Messari, OP Labs, Block, and Gemini also recently announcing layoffs or leadership changes.

(Source：BeInCrypto)