Crypto.com is eliminating approximately 180 positions, representing 12% of its staff, in what CEO Kris Marszalek describes as a move toward enterprise-wide AI adoption. Marszalek warned on social media that companies failing to make this transition immediately will fall behind. This marks the third round of layoffs in four years for the Singapore-based exchange.
The cuts are part of a broader restructuring trend across the crypto sector. The Algorand Foundation reduced its staff by 25% on Wednesday, citing a difficult global macroeconomic environment, while data firm Messari also made staff reductions alongside leadership changes. Fintech company Block trimmed its workforce to 6,000 employees last month, with CEO Jack Dorsey pointing to AI tools enabling new working methods.
Crypto.com has also been active on other fronts, recently receiving conditional approval for a national trust bank charter from the Office of the Comptroller of the Currency and launching a prediction market product in the United States.
Originally reported by Decrypt.
