The Algorand Foundation cut 25% of its staff in March 2026, blaming the uncertain global macro environment and declining token prices. The move follows widespread layoffs across the cryptocurrency sector.
Gemini eliminated about 200 roles-30% of its workforce-while Crypto.com trimmed 12%, or roughly 180 jobs, citing enterprise-wide AI integration. OP Labs, PIP Labs, and Messari also downsized.
Despite claims of AI-driven efficiency, analysts note that entire sectors like restaking, DePIN, and Layer 2s have collapsed, driving consolidation. Crypto job postings dropped 80% year-over-year.
Algorand’s ALGO token trades near $0.09, down 98% from its 2019 peak. Bitcoin has fallen 20% this quarter. Over 450 jobs were cut in weeks-a fraction of the 26,000 lost during the 2022 crypto winter.