Odaily Odaily reports that crypto exchage Crypto.com has announced layoffs of approximately 12% of its workforce, citing the need to adjust its business to adapt to increased AI capabilities. According to the Straits Times, the layoffs affect about 180 employees.
Crypto.com CEO Kris Marszalek stated in an article on the X platform that companies that do not immediately undertake this transformation will fail, while those that act immediately and combine the best AI tools with top talent will achieve scale and precision that were previously impossible.
This round of layoffs is the latest example of cost-cutting in the digital finance industry. Previously, crypto exchage Gemini Space Station Inc. laid off approximately 25% of its staff earlier this year and closed its operations in the UK, Europe, and Australia. Jack Dorsey's Block Inc. announced last month that it would lay off nearly half of its workforce, citing its assessment that AI will transform the industry.
