Algorand Foundation trims 25% of staff, cites macro conditions and crypto downturn

The Algorand Foundation said it has reduced its workforce by 25%, attributing the move to the global macro backdrop and a broader decline in crypto markets. It said the restructuring is intended to better align remaining resources with the protocol's long-term objectives. ALGO was down about 10% and traded at $0.088 at the time of writing, while DeFi metrics on Algorand have also weakened.