Just a day ago, the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) jointly issued guidance classifying ALGO as a digital commodity. The Algorand Foundation announced a 25% workforce reduction, citing a challenging macroeconomic environment and a downturn in the cryptocurrency market. The foundation stated that the layoffs are a difficult but necessary measure aimed at achieving long-term sustainable development. Meanwhile, the foundation clarified that even though ALGO was included in the guidance only as a footnote, this solidifies its status as a commodity and has no association whatsoever with the futures market.