TLDR
- Algorand Foundation cut 25% of its staff, citing crypto market decline and global economic uncertainty.
- The number of employees affected was not disclosed, but the foundation said they were “best-in-class contributors.”
- ALGO token currently trades at $0.09, down nearly 98% from its 2019 all-time high of $3.56.
- The layoffs come alongside cuts at OP Labs, PIP Labs, Gemini, Messari, and Block.
- Despite the cuts, Algorand says it remains focused on its mission and still has open job postings.
Algorand Foundation, the organization behind the layer-1 Algorand blockchain, announced on Wednesday that it had cut 25% of its workforce. The decision came as Bitcoin trades well below its recent peak and the broader crypto market continues to struggle.
Today, the Algorand Foundation made the difficult decision to reduce our workforce by 25%. This decision was not taken lightly and is in response to the uncertain global macro environment as well as the broader downturn in crypto markets.
These employees have been best-in-class…
— Algorand Foundation (@AlgoFoundation) March 18, 2026
The foundation did not say exactly how many people were let go. It described those affected as “best-in-class contributors” and called the decision “incredibly tough.” In a post on X, it said the move was “in response to the uncertain global macro environment as well as the broader downturn in crypto markets.”
The foundation said it now has a “more sustainable alignment” of resources with its long-term priorities in business, technology, and ecosystem development.
While I am no longer at the Algorand Foundation, let me just say that the Algorand protocol is fantastic.
The technical team at the Algorand Foundation is also fantastic and passionate. I enjoyed working with—and remain confident in—all of them.
Stay focused and keep building! https://t.co/vK4s8UKsvL
— 𝙽 𝙸 𝙺 𝙱 (@nbougalis) March 1, 2026
Algorand was designed by Turing Award-winning cryptographer Silvio Micali and launched in 2019. Its native token, ALGO, hit an all-time high of $3.56 that year. It now trades at around $0.09 — nearly 98% below that peak. The token has not been above $1.00 since January 2022.
Despite the drop, Algorand’s Q4 transparency report showed quarterly transaction growth of 4.7%. Real-world asset values on the network reached $109 million, a rise of 2.9%. The network currently ranks 19th among blockchains for real-world asset value, at $83 million.
A Wave of Layoffs Across Crypto
Algorand’s cuts are part of a wider pattern of job losses across the industry. Last week, OP Labs — the team behind the Optimism network — let go of 20 employees to narrow its focus. A day later, PIP Labs, the team behind Story Protocol, cut 10% of its staff.
Gemini, the crypto exchange, previously laid off around 25% of its staff and later parted with three executives. Blockchain data firm Messari also announced layoffs recently, with its CEO stepping down as the company shifts to become an AI-first business.
Jack Dorsey’s payments firm Block laid off 4,000 employees in February, though it is unclear how many were working on Bitcoin-related projects.
Bitcoin is currently trading around $71,000, about 44% below its October all-time high of $126,000. It fell as low as $60,000 on February 6, according to CoinMarketCap.
What Algorand Plans Next
Despite the headcount reduction, the Algorand Foundation says it is still moving forward with several planned milestones. These include the next major release of its developer toolkit AlgoKit, the launch of a user-friendly wallet called Rocca, a commercial toolkit, and a focus on post-quantum security.
The foundation also noted in a December 2025 progress report that it grew Algorand’s online stake from about 1 billion to 2 billion ALGO in just over a year, which it described as progress toward greater decentralization.
As of this report, the foundation’s website still shows two open job postings in community management and business development.
