[Algorand Foundation Lays Off 25% of Staff Citing Global Macroeconomic Uncertainty and Crypto Market Downturn] According to a report by Jinse Finance, the Algorand Foundation has laid off 25% of its staff, as revealed in a statement released on Wednesday. The foundation announced on X, 'This decision was not made lightly but was necessary to address the uncertain global macroeconomic environment and the overall downturn in the cryptocurrency market.' The Algorand Foundation is one of the organizations responsible for managing the Algorand Layer 1 blockchain. According to LinkedIn data, this nonprofit organization has fewer than 200 employees.