Crypto.com cuts 12% of staff as it accelerates AI push

Crypto.com CEO Kris Marszalek announced a 12% workforce reduction due to AI integrations, warning that companies “that do not make this pivot immediately will fail.”

Singapore-headquartered cryptocurrency exchange Crypto.com is set to cut up to 12% of its workforce due to company-wide artificial intelligence (AI) integrations, joining a growing list of companies announcing AI-linked mass layoffs, according to the exchange’s founder and CEO, Kris Marszalek.

Crypto.com recently expanded its AI offering and launched the AI agent platform ai.com on Feb. 9, which it positioned as a core business. The company also said it was the first crypto platform to receive the ISO/IEC 42001:2023 certification for AI system management in February.

“We are joining the list of companies integrating enterprise-wide AI,” Marszalek said in a Thursday X post, warning that companies that don’t pivot will fail.

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