Crypto.com just became the latest tech company to slash its workforce in the name of artificial intelligence. CEO Kris Marszalek announced the exchange is cutting 12% of its global staff, targeting what he calls "roles that do not adapt in our new world" as the company rolls out enterprise-wide AI systems. The move signals how automation is hitting the crypto sector just as hard as traditional tech, with one of the industry's biggest players betting its future on machines over people.
Crypto.com, one of the world's largest cryptocurrency exchanges, is cutting roughly 12% of its workforce as the company pivots hard toward artificial intelligence. CEO Kris Marszalek disclosed the layoffs in a statement that frames the cuts as necessary evolution rather than cost-cutting, targeting employees in "roles that do not adapt in our new world" as the platform integrates AI across its operations.
The announcement places Crypto.com squarely in a growing wave of tech companies using AI as justification for significant workforce reductions. Google trimmed thousands of jobs earlier this year while touting AI efficiency gains, and Microsoft similarly restructured teams around automated systems. But this marks one of the first major crypto exchanges to explicitly tie layoffs to AI deployment, suggesting the automation wave is crashing into an industry already grappling with regulatory pressure and tightening margins.
While Crypto.com hasn't disclosed the exact number of affected employees, the 12% figure likely represents several hundred jobs given the exchange's reported workforce of over 3,000 people globally. The company's carefully worded statement about roles that "do not adapt" hints at positions in customer support, compliance monitoring, and back-office operations where AI tools are increasingly capable of handling routine tasks.
The timing is particularly striking. Crypto markets have shown renewed volatility in recent months, and exchanges are racing to cut costs while maintaining the infrastructure to handle trading surges. Automated customer service chatbots, AI-powered fraud detection systems, and machine learning algorithms for compliance screening offer tempting cost savings for platforms operating on thin margins.
