BroadChain has learned that on March 19, cryptocurrency exchange Crypto.com announced a workforce reduction of approximately 12%, affecting around 180 employees.
The company stated the move is intended to realign its business to adapt to advancements in artificial intelligence capabilities.
Crypto.com CEO Kris Marszalek emphasized that companies failing to embrace this transformation will be left behind. He argued that only those combining best-in-class AI tools with top-tier talent can achieve unprecedented scale and precision.
This round of layoffs marks the latest in a series of cost-cutting measures across the digital finance sector.
Earlier this year, cryptocurrency exchange Gemini cut roughly 25% of its staff and shuttered its operations in the UK, Europe, and Australia.
Last month, Block—the company founded by Jack Dorsey—also announced plans to cut nearly half of its workforce, citing its belief that AI will fundamentally transform the industry.