Crypto.com Slashes Workforce by 12% Amid Artificial Intelligence Transformation
In a move driven by artificial intelligence integration, Crypto.com's CEO Kris Marszalek has revealed plans to reduce the company's workforce by 12%, cautioning that organizations failing to embrace this transformation "will fail."
The Singapore-based digital currency exchange Crypto.com has announced plans to eliminate as much as 12% of its total workforce as the company implements artificial intelligence (AI) systems across its entire organization, becoming the latest in a series of firms announcing significant job reductions tied to AI adoption, as disclosed by the platform's founder and chief executive officer, Kris Marszalek.
The cryptocurrency exchange has been broadening its artificial intelligence capabilities and introduced the ai.com AI agent platform on Feb. 9, establishing it as a fundamental component of its business operations. Additionally, the organization reported becoming the inaugural crypto exchange to obtain the ISO/IEC 42001:2023 certification for managing AI systems during February.
"We are joining the list of companies integrating enterprise-wide AI,"Marzalek stated in an X platform post published on Thursday, issuing a warning that organizations failing to make this pivot will face failure.
With approximately 1,500 employees on Crypto.com's roster, the announced 12% reduction in personnel would impact roughly 180 workers. This development represents the most recent AI-related significant workforce reduction within both the cryptocurrency and technology sectors, highlighting growing apprehensions regarding artificial intelligence displacing increasing portions of the human labor force.
"We are joining the list of companies integrating enterprise-wide AI,"a representative from Crypto.com informed Cointelegraph, noting that these workforce reductions form part of the exchange's strategy to "prioritize resources around key growth areas." The company representative chose not to provide details regarding which specific positions were impacted by the job cuts.
Crypto and tech companies stage AI-linked mass layoffs
Numerous major cryptocurrency and technology corporations have similarly disclosed AI-related substantial workforce reductions in the past several months.
This past Monday, the blockchain data analytics firm Messari revealed additional personnel reductions as the company transitions toward becoming an AI-focused organization. Messari had previously eliminated approximately 15% of its full-time workforce during January 2025 and executed a comparable staff reduction back in February 2023.
This Wednesday saw the Algorand Foundation, the entity supporting the Layer-1 blockchain network Algorand, likewise disclose a 25% reduction in personnel, pointing to macroeconomic instability and the ongoing cryptocurrency market downturn as contributing factors.
On Feb. 26, Block, the payments firm founded by Jack Dorsey, revealed it was eliminating approximately 40% of its workforce, attributing the decision to artificial intelligence's swift advancement. Nonetheless, a portion of the 4,000 terminated employees have since been reinstated at the organization, based on reports from several workers who were included in the original layoff announcement.
Major technology corporations have similarly announced substantial AI-driven workforce reductions. On Jan. 27, the visual search platform Pinterest disclosed plans to cut as much as 15% of its personnel as it shifts toward an AI-focused operational model.
On March 11, the software development company Atlassian revealed it was reducing its workforce by 10%, representing approximately 1,600 workers, as part of an organizational restructuring designed to generate internal funding for additional AI-related investments.
Meta, the parent corporation of Facebook, is additionally rumored to be planning staff reductions reaching up to 20%, aiming to facilitate AI-driven operational efficiencies and compensate for artificial intelligence infrastructure expenditures, according to sources with knowledge of the situation who spoke with the Reuters news organization on Saturday.