Algorand
Summary
Algorand is a Layer-1 blockchain founded in 2017 by Silvio Micali, a Turing Award-winning MIT cryptographer who co-invented zero-knowledge proofs and verifiable random functions. The protocol uses a Pure Proof-of-Stake consensus mechanism with genuine academic credibility, and has attracted institutional partnerships including FIFA and Visa-adjacent integrations. However, ALGO has been named as an alleged unregistered security in SEC complaints against both Bittrex and Binance, the Algorand Foundation conducted a highly criticized 2019 token auction that resulted in a mass refund event, the token trades approximately 96% below its 2021 all-time high, and the Foundation cut 25% of its workforce in 2025 while relocating from Singapore to the United States.
Timeline(14 events)
2017-01-01
Algorand founded by Silvio Micali; research and development begins at MIT.
Algorand Technologies — Founder page2019-06-01
Algorand conducts initial Dutch Auction token sale, selling 25 million ALGO for over $60 million. Critics describe valuation as excessive. ALGO price drops approximately 56% shortly after.
CryptoBriefing — 'Insane Valuation' report2019-08-01
Algorand Foundation announces optional early redemption for auction buyers at 85% of purchase price following price collapse.
Business Wire — Algorand Foundation press release2020-06-19
90% refund window opens for 2019 ALGO auction participants. Nearly 80% of auction supply — approximately 19.9 million ALGO — is ultimately returned.
Algorand Foundation — Refund announcement2021-11-18
ALGO reaches its all-time high of approximately $2.82 during the broader crypto bull market.
CoinGecko — ALGO price history2022-01-01
TinyMan DEX exploited for approximately $3 million via a pool token burning vulnerability. Liquidity drops from $43 million to $5 million. TinyMan advises users to withdraw and pledges reimbursement.
TinyMan official announcement — Medium2022-05-03
FIFA announces Algorand as its official blockchain platform and FIFA World Cup Qatar 2022 regional supporter. ALGO price surges approximately 15–20%.
CoinDesk — Algorand FIFA partnership2022-07-01
CEO Steven Kokinos steps down from Algorand; COO Sean Ford named interim CEO.
Decrypt — Algorand CEO departure2023-02-19
MyAlgo wallet exploited via malicious JavaScript CDN injection. Approximately $9.2–9.6 million stolen from approximately 25 wallets over February 19–21.
CoinDesk — MyAlgo exploit report2023-04-17
SEC designates ALGO as an alleged crypto asset security in its complaint against Bittrex, citing the 2019 token auction and price floor commitment.
Decrypt — SEC Bittrex lawsuit2023-06-05
SEC names ALGO as an alleged security in its complaint against Binance. ALGO and FLOW fall to then all-time lows around $0.098.
Unchained — SEC Binance lawsuit2024-01-01
Algorand token vesting schedule concludes; all 10 billion ALGO tokens are now fully circulating.
Tokenomist — Algorand vesting schedule2025-05-01
Algorand Foundation CTO John Woods announces departure after approximately three years. Foundation simultaneously announces 25% workforce reduction and relocation from Singapore to the United States.
CoinPedia — Algorand CTO departure and layoffs2026-01-01
Algorand Foundation announces new board of directors led by Bill Barhydt (Abra) and formally completes US relocation to Delaware. $15 million consolidation agreement with Algorand Technologies disclosed.
PRNewswire — Algorand Foundation US return announcementmodel: claude-code-investigator
generated: 5/13/2026, 3:43:54 AM
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