The Algorand Foundation announces its return from Singapore to the United States and the formation of a new board of directors

The Algorand Foundation announced on Wednesday that it will relocate its headquarters from Singapore back to the United States and form a new board of directors. This move follows the Jito Foundation's return to the U.S. from the Cayman Islands last week.

Both organizations stated that the shift in U.S. cryptocurrency policy towards a more friendly approach was a key factor in their return. Algorand Foundation CEO Staci Warden said that this move aims to ensure U.S. leadership in next-generation financial infrastructure, focusing on instant global payments, the democratization of financial products, and enhancing economic resilience.

This decision comes as the U.S. Senate Banking Committee is set to vote on landmark cryptocurrency legislation. Jito Labs CEO previously pointed out that after President Trump took office, U.S. cryptocurrency policy underwent a 180-degree shift, creating a favorable environment for crypto companies to return.