Overview
- Algorand announced on March 18 that it eliminated 25% of roles, citing an uncertain global economy and a downturn across digital assets.
- The organization did not disclose the number of employees affected and said it will support departing staff during the transition.
- The move tracks a wider round of crypto layoffs reported in recent weeks, including cuts at OP Labs, PIP Labs, Gemini, Messari, Block, and Crypto.com.
- ALGO recently traded near $0.09, roughly 98% below its 2019 all‑time high of $3.56, according to CoinGecko data.
- Despite the reduction, the foundation says protocol development continues, highlighting recent Q4 metrics such as 4.7% transaction growth and rising reported RWA values, with a few roles still listed on its jobs page.