In brief
- The Algorand Foundation laid off 25% of its staff due to the downturn in crypto markets.
- The foundation remains focused on the network, which saw nearly a 5% growth in transactions last quarter compared to Q3.
- The layoffs follow other recent announcements from firms like OP Labs, PIP Labs, Block, and Gemini.
The organization behind the layer-1 network Algorand has laid off 25% of its staff as a result of crypto’s continued slide and macroeconomic uncertainty.
Details about how many individuals were affected were not shared. A representative for the foundation did not immediately respond to Decrypt’s request for comment.
“These employees have been best-in-class contributors to this ecosystem and to the Foundation, and…
