Crypto.com Lays Off Employees Amid AI Expansion

Crypto.com plans to lay off approximately 12% of its workforce as part of a broader strategy to implement artificial intelligence across the company. The announcement was made by CEO Kris Marszalek, who emphasized that businesses failing to adapt to AI-driven changes may struggle to survive in the market.

The Singapore-based company employs around 1,500 people, meaning the layoffs could affect roughly 180 employees. The decision is linked to the development of new AI-powered tools and a shift in business priorities.

In early February, Crypto.com launched the platform ai.com, which is expected to become a key part of its operations. During the same month, the company also announced that it had obtained the ISO/IEC 42001:2023 certification for AI system management.

Company representatives stated that the layoffs are intended to refocus resources on areas with the highest growth potential. However, it has not been disclosed which roles will be affected.

Crypto.com is not alone in taking such steps. In recent months, many companies in the technology and cryptocurrency sectors have announced layoffs tied to the adoption of AI.

Analytics platform Messari has also reduced its workforce as it continues transitioning to an AI-driven operating model. Meanwhile, the Algorand Foundation cut 25% of its staff, citing macroeconomic conditions and a slowdown in the crypto market.

Block, the company owned by Jack Dorsey, announced a reduction of around 40% of its team, pointing to rapid AI development as a key factor. However, some of the laid-off employees were later rehired.

These changes are also affecting major tech companies. Pinterest has announced plans to reduce up to 15% of its workforce, while Atlassian intends to cut around 10% of its employees—approximately 1,600 people. Meta is also considering layoffs of up to 20% of its staff to improve efficiency and fund the development of AI infrastructure.

The growing role of artificial intelligence is prompting more companies to reorganize their structures. As a result, concerns are rising that automation may replace certain jobs.