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Crypto.com lays off 12% of staff as CEO warns firms must move fast on AI
- On Thursday, March 19, Singapore-headquartered cryptocurrency exchange Crypto.com laid off roughly 12% of its global workforce, or 180 employees, pivoting "towards key business initiatives."
- A senior executive stated the company's structure had become "quite layered and siloed," creating inefficiencies that prompted the firm to lean into new platforms and technologies.
- Crypto.com previously spent $70 million to acquire ai.com, signaling a broader transition into artificial intelligence, a sector that reached nearly $1.5 trillion in worldwide spending during 2025 according to Gartner.
- Affected team members will receive resources to support their transition, though one employee discovered the move after being locked out of the company's communication platform, Slack.
- The reduction follows broader industry trends; technology firms in the U.S. cut about 22,291 jobs last year amid shifting market conditions and ongoing restructuring efforts.
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Crypto.com CEO announces 12% layoffs targeting 'roles that do not adapt in our new world'
Crypto.com CEO Kris Marszalek cited the company's turn to "enterprise-wide AI" in his layoff announcement.Marco Bello/ReutersCrypto.com CEO Kris Marszalek announced a 12% layoff, citing the integration of "enterprise-wide AI."Non-adopters will "immediately fail," and slow-moving companies will be "left behind," Marszalek wrote on X.He joins a growing list of CEOs citing AI as a reason for layoffs, including Block's Jack Dorsey.The tech layoffs k…
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Coverage Details
Total News Sources23
Leaning Left1Leaning Right1Center4Last UpdatedBias Distribution67% Center
Bias Distribution
- 67% of the sources are Center
67% Center
L 17%
C 67%
R 16%
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