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Algorand Foundation to Cut Approximately 25% of Staff Amid Economic Uncertainty and Crypto Market Downturn
The Algorand Foundation announced a workforce reduction of roughly 25% due to global macroeconomic uncertainty and a slowdown in the cryptocurrency market. The organization, which employs fewer than 200 people, explained the move as a reorganization aimed at more efficient resource allocation and the execution of long-term plans for protocol and ecosystem development. As part of a broader optimization trend, Messari and Block also reported staff reductions.