Algorand Foundation Cuts 25% of Staff Amid Crypto Downturn

The Algorand Basis mentioned on March 18 that it had minimize about 25% of its employees, citing weak crypto market situations and a worsening macroeconomic setting.

The muse had fewer than 200 staff, which places the variety of affected roles at roughly 40 to 50, though it didn’t give an actual determine. 

It didn’t say which groups or applications have been affected. In its assertion, the muse mentioned the layoffs have been meant to raised match its assets with Algorand’s long-term enterprise, expertise and ecosystem priorities.

As we speak, the Algorand Basis made the troublesome determination to cut back our workforce by 25%. This determination was not taken frivolously and is in response to the unsure world macro setting in addition to the broader downturn in crypto markets.

These staff have been best-in-class…

— Algorand Basis (@AlgoFoundation) March 18, 2026

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ALGO was buying and selling at about US$0.09 (AU$0.14) when the cuts have been introduced. That was roughly 98% beneath its 2019 peak of US$3.56 (AU$5.45), so, how lengthy can it go at this level?

Humorous sufficient, regardless of the discount, the muse was nonetheless itemizing at the least two open roles on its job board, together with positions in neighborhood administration and enterprise growth.

The muse holds about US$38 million (AU$58 million) in dollar-denominated property and greater than 1.1 million ALGO in treasury. The Algorand community can also be reported to assist about US$83 million (AU$127 million) in tokenised real-world assets on-chain.

A Day After the Regulatory Shift

The announcement got here in the future after the US Securities and Exchange Commission (SEC) and Commodity Futures Buying and selling Fee (CFTC) issued joint steerage classifying ALGO as a digital commodity moderately than a safety. 

The steerage cited ALGO for instance of a token that may qualify as a commodity with no futures market. That removes some authorized uncertainty across the protocol, nevertheless it didn’t change the muse’s speedy cost-cutting determination.

Stress Hits Crypto Markets

The layoffs have been introduced because the broader crypto market remained beneath strain. Bitcoin was buying and selling at about US$71,374 (AU$109K) on the time, round 44% beneath its October 2025 peak of US$126,000 (AU$192K).

Algorand’s cuts comply with different layoffs introduced throughout the crypto sector this yr. As an example, Block minimize 4,000 jobs in February, Gemini decreased about 25% of its workforce, and OP Labs minimize 20 roles. Messari additionally introduced layoffs in the identical week as Algorand.

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