Singapore-based crypto exchange Crypto.com is cutting about 12% of its workforce, or roughly 180 employees, as it leans into AI-driven efficiency, joining a growing wave of firms shrinking teams while betting on automation.<\/p>\n
“We are joining the list of companies integrating enterprise-wide AI,” a Crypto.com spokesperson told CoinDesk. “As we continue to prioritize resources around key growth areas and drive efficiencies across our business, we reduced our workforce by approximately 12%.”<\/p>\n
Kris Marszalek, Crypto.com’s CEO, on X said companies that do not<\/a> pivot toward the integration of AI into their processes will fail.<\/p>\n “Companies that move slowly will be left behind,” he added. “Companies that move immediately and pair the best AI tools with top performers will achieve a level of scale and precision that was previously impossible. This is where we must go.”<\/p>\n In February, Marszalek said Crypto.com spent <\/a>$70 million to buy ai.com, signaling his company’s move into artificial intelligence, a sector that reached nearly $1.5 trillion in worldwide spending in 2025, according to Gartner.<\/a><\/p>\n The Singapore-headquartered exchange had around 1,500 employees before the cuts.<\/p>\n The move marks the latest round of layoffs at Crypto.com, which has trimmed staff multiple times<\/a> in recent years amid shifting market conditions and internal restructuring, including a 20% workforce reduction in 2023.<\/p>\n Crypto.com’s layoffs also follow Block’s decision to reduce its 6,000-strong workforce <\/a>by 40%. Its founder and CEO, Jack Dorsey, cited AI-enabled productivity gains as the reason for the cuts. He said AI allows smaller teams to move faster.<\/p>\n In January, OKX announced it was restructuring<\/a> its global institutional business, resulting in job losses it claimed were not a “mass layoff.” The exchange didn’t mention the exact number. That same month, Polygon laid off 60 employees, disputing reports it let go 30%<\/a> of its staff. In the U.S., the technology industry cut<\/a> about 22,291 jobs last year.<\/p>\n The Crypto.com spokesperson said all employees, who before the layoff totalled roughly 1,500 worldwide, have been notified and will receive resources to support their transition.<\/p>\n