Algorand Foundation Cuts 25% of Staff, Citing Market Uncertainty

The Algorand Foundation supports the ecosystem of Algorand, a layer-1 blockchain designed by Turing Award winner Silvio Micali. The proof-of-stake network launched in 2019. Its native token, ALGO, is about 98% below its 2019 all-time high of $3.56, with the prolonged market downturn putting pressure on long-term operations and ecosystem development.

The Algorand Foundation announced on March 18, 2026, that it was cutting 25% of its workforce, citing global macroeconomic uncertainty and a broader cryptocurrency market downturn. It did not disclose the number of affected employees or the amount of severance payments. The foundation said the restructuring would align resources more sustainably with the protocol’s long-term business, technical and ecosystem priorities, while helping departing employees through the transition.