The Algorand Foundation announced a 25% workforce reduction, citing uncertain global macro conditions and a broad crypto market downturn.
This move follows the foundation’s January decision to relocate its headquarters from Singapore back to the United States - a shift aimed at regulatory alignment and institutional engagement.
Leadership emphasized continued focus on financial empowerment, protocol development, and ecosystem growth in tokenization, payments infrastructure, and onchain finance.
ALGO trades near $0.09 - down 5% on the day and 19% year to date.