Cryptocurrency trading platform Crypto.com announced Thursday that it is laying off 12% of its staff as the company integrates artificial intelligence. The exchange laid off about 180 employees as it restructures and rolls out enterprise-wide AI to drive efficiencies. Chief executive Kris Marszalek has warned that companies that fail to rapidly integrate AI into their operations will be „left behind,” following the firm’s $70 million purchase of the ai.com domain and broader industry spending on AI.
“We are joining the list of companies integrating enterprise-wide AI. Companies that do not make this pivot immediately will fail,” CEO Kris Marszalek posted on X.
“As part of this step, we have also made a targeted ~12% workforce reduction of roles that do not adapt in our new world,” he added, saying the new structure prepares the company for “continued success.”
A Crypto.com spokesperson told CNBC that all impacted team members have been notified, but declined to provide the exact number of employees let go.
Crypto.com joins a growing number of tech companies that have invoked AI as the rationale for cutting headcount.
Last month, Block cut its headcount by more than 4,000 people — nearly half its total workforce. “The core thesis is simple. Intelligence tools have changed what it means to build and run a company,” Block CEO Jack Dorsey wrote in the announcement to shareholders. “A significantly smaller team, using the tools we’re building, can do more and do it better,” Dorsey said.
Meta is weighing a headcount reduction of as much as 20%, a move aimed in part at absorbing the cost of heavy AI infrastructure investment and positioning the company for efficiency gains as AI-assisted work expands. Atlassian said last week it was letting go of about 1,600 workers — roughly 10% of its total headcount — with CEO Mike Cannon-Brookes saying the freed-up capital would go toward AI development and enterprise growth.
According to Yahoo Finance, an explanation for the wave of white-collar layoffs sweeping across industries is becoming increasingly clear: AI isn’t replacing white-collar workers. It’s displacing the cash once used to pay them, with companies cutting corporate payrolls to help fund their pushes into data centers and other AI-focused investments.
Banking 4.0 – „how was the experience for you”
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