Crypto.com, a cryptocurrency exchange, has announced plans to cut approximately 12% of its workforce as it accelerates its shift toward artificial intelligence (AI). According to media reports, this round of layoffs affects around 180 employees, reflecting the intense restructuring pressure within the digital finance industry as AI technology rapidly advances.
CEO Kris Marszalek emphasized that companies that don't quickly adapt to the AI wave will fall behind. He argued that combining advanced AI tools with a high-quality workforce will help businesses achieve operational scale and accuracy far beyond what was previously possible. This is not just a simple cost-cutting decision, but a strategic move to optimize performance and enhance long-term competitiveness.
Crypto.com 's move comes as the entire crypto industry is undergoing a significant reshaping phase. Prior to this, Gemini Space Station Inc. cut approximately 25% of its workforce and scaled back operations in several international markets, including the UK, Europe, and Australia. The wave of layoffs isn't limited to the pure cryptocurrency sector; it's also spreading to major fintech companies like Block Inc. , founded by Jack Dorsey , which announced plans to streamline nearly half its workforce to focus on its AI strategy.
This trend shows that AI is becoming a core element in the new competitive landscape of the digital finance industry. Exchanges and blockchain companies are not only facing market volatility but are also under pressure to restructure their operating models to leverage automation, data analytics, and intelligent trading systems. Recently, Gemini Exchange also laid off 30% of its workforce due to this trend.
