Crypto industry layoffs in 2026: macro pressures and an AI pivot

A new round of layoffs has hit several major crypto firms in early 2026. Algorand said it would cut 25% of its fewer than 200 employees, Gemini eliminated roughly 200 positions in February and increased reductions to about 30% by mid‑March, and Crypto.com trimmed 12% of its staff, around 180 people.

Smaller teams were affected as well: OP Labs let go of 20 employees, PIP Labs reduced its headcount by 10%, and Messari carried out a third round of layoffs since 2023, with the number not disclosed. The cuts mentioned here total roughly 450 roles. Companies offered different explanations for the downsizing.

Algorand pointed to "the uncertain global macro environment" and weak token prices, noting ALGO trading at $0.09, down 98% from its 2019 peak. Others presented the moves as a shift toward artificial intelligence: Gemini said, "AI is now too powerful not to use at Gemini," and warned that failing to adopt AI would soon be akin to using a typewriter instead of a laptop.

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