Crypto.com Cuts 12% of Staff and Pins Job Losses on AI Push (1)

Digital-asset exchange Crypto.com said it is axing around 12% of its workforce, citing a need to adapt its business to rising artificial intelligence capabilities.

The Singapore-headquartered exchange is integrating AI across its business, giving it room to reduce headcount, it said in a statement on Thursday. That equates to roughly 180 employees, according to the Straits Times, which earlier reported the layoffs. A Crypto.com spokesperson declined to comment further.

“Companies that do not make this pivot immediately will fail,” Chief Executive Officer Kris Marszalek wrote in a post on X on Thursday. “Companies that move immediately and pair the best ...