Algorand Foundation cuts 25% of its workforce to cope with macroeconomic uncertainty and a sluggish cryptocurrency market

By: www.chaincatcher.com|2026/03/19 00:50:59

According to The Block, the Algorand Foundation announced a 25% staff reduction on March 18, 2026. The foundation stated that this layoff is a measure to respond to global macroeconomic uncertainty and the overall downturn in the cryptocurrency market, and it is not a hasty decision. It is reported that the total number of employees at the foundation is less than 200.

Currently, the foundation holds approximately $38 million in dollar-denominated assets and 1.1 million ALGO tokens, with ALGO having a market capitalization of about $805.8 million, ranking 78th globally. The foundation stated that it will continue to focus on the long-term development and ecosystem construction of the Algorand protocol. This layoff is a reflection of the recent wave of layoffs in the cryptocurrency industry, with several projects such as OP Labs, Messari, and Block also announcing layoffs recently.

-- Price

This content is provided for general informational purposes only and doesn't constitute financial, investment, legal, or tax advice. Any events, rewards, online promotions, or related information mentioned herein should not be considered a recommendation, solicitation, or invitation to purchase, sell, trade, or otherwise deal in any crypto assets. Crypto assets are highly volatile and may result in loss. The availability of WEEX services, products, and related events may vary by region. You are responsible for ensuring that your participation is in accordance with applicable local laws and regulations.

🚨 David Schwartz stated that the only condition for his return from retirement is Nik Bougalis. 🧩 Two engineers who worked together for years on the core code of XRPL have moved to different blockchain ecosystems. 📌 Schwartz continues to support Ripple as a consultant after leaving his position o...

Quantum Readiness in Blockchain: Algorand and Aptos Lead the Way

Key Takeaways: Algorand and Aptos are leading the charge in preparing for quantum threats, with Algorand implementing quantum-resistant…

Coinbase releases quantum computing research paper, stating that the cryptocurrency industry needs to prepare for security upgrades in advance

The Coinbase Quantum Computing and Blockchain Independent Advisory Committee has released its first position paper stating that sufficiently powerful quantum computers may be able to crack the encryption mechanisms used by mainstream blockchains to protect digital assets in the future. However, such...

The most important thing in Web3 primary market investment

There is no perfect model, only builders who are respectful and responsible towards the market.

Web3 is sick, but the cure is not AI

Encryption may have wasted too many years, and the current AI anxiety is merely a stress response of an industry that has overdrawn its narrative after facing external shocks.

Morning News | U.S. SEC approves tokenized trading on Nasdaq; Animoca Brands announces investment in AVAX tokens; Algorand Foundation completes strategic integration

Overview of Important Market Events on March 19

The Algorand Foundation has completed a strategic integration, taking over protocol development and IP, and committing to invest $15 million

The Algorand Foundation and Algorand Technologies announced an agreement to integrate the intellectual property of Algorand Technologies and the development and support activities of the Algorand protocol into the Algorand Foundation.In addition, to support the resource needs of Algorand Technologie...

PostFinance, a bank under Swiss Post, expands its cryptocurrency services, adding assets such as ARB, NEAR, and SUI

PostFinance, a bank under Swiss Post, is expanding its cryptocurrency asset services, adding Algorand, Arbitrum, NEAR Protocol, Stellar, USDC, and Sui, bringing the total supported assets to 22.The bank stated that since launching its cryptocurrency trading services in 2024, it has opened over 36,00...

Ripple and SBI Team Up for RLUSD Stablecoin Launch in Japan by Early 2026

Latest Crypto Market Snapshot as of August 22, 2025 BTC Soars to $115,250.00 ETH Hits $4,450.75 XRP Climbs…

Tether will stop supporting USDT on five chains including EOS on September 1

Odaily News Tether announced that it will terminate its support for USDT on Omni, Bitcoin Cash SLP, Kusama, EOS, and Algorand networks starting September 1, 2025. Officials said that this move is aimed at optimizing the overall infrastructure layout, adapting to the actual usage trends of the commun...

Where in Ukraine is the Most Demand for Rental Housing: OLX Names Popular Formats

Michael Barr, Fed Governor, Says Rates Must Be Raised Firmly If Inflation Doesn't Stabilize

Where Should Global Crypto Platforms Report CARF? An Analysis of Reporting Nexus Rules

Ireland: The new tax-free investment account closes its doors to crypto

Ireland is launching a tax-free investment account in 2027 open to stocks, bonds, and ETFs, but completely excludes crypto, deemed too risky.

Cardano anchors 500,000 supply chain records

Waller's Warning: Inflation Still Too High for the Federal Reserve

RedStone Revolutionizes Bond Tokenization: Instant Settlement and DeFi for NYLIM's HYB Fund

BlackRock Re-Underwrites Bitcoin, And The Portfolio Math Still Holds

BlackRock re-underwrites the Bitcoin thesis, finding that even modest allocations historically improved risk-adjusted returns in traditional portfolios.

Stablecoins: The Hidden Gear Behind American Debt Revealed

Crypto Moves R$ 283 Billion in Brazil and Sets Record in the First Half of the Year

B.AI Daily Token Throughput Surpasses 1.1 Trillion, Accelerating the Scale Effect of AI Infrastructure

PONS Is Up Over 100x: Here's Why Traders Are Racing to WEEX

PONS has rocketed from a July low to a $300M+ market cap, posting single-day gains near 50%. Here's what's driving the rally and how to trade PONS spot and futures on WEEX.