Crypto.com slashes 12% of workforce as it pivots to enterprise AI

Crypto.com, the Singapore-based digital asset exchange, announced it is cutting approximately 12% of its global workforce as part of a strategic pivot toward integrating enterprise artificial intelligence tools. CEO Kris Marszalek stated the cuts are essential for the company's survival, warning that firms slow to adopt AI will be surpassed by competitors achieving unprecedented scale and precision. Employees reportedly learned of the layoffs after losing Slack access, and a senior executive cited that the organization had become "layered and siloed," hindering execution. This marks the third round of layoffs for Crypto.com in recent years, following reductions in 2022 and 2023. The company confirmed affected workers are receiving transition support, though details on targeted roles were scarce. These cuts align with broader restructuring trends in the crypto industry following market downturns, with other firms like Algorand Foundation, Block, and Gemini also announcing significant workforce reductions.

(Source：Crypto Briefing)