(((Crypto.com))) Lays Off Approximately 12%, CEO Cites AI Transformation Needs

Odaily Planet Daily News – Cryptocurrency exchange (((Crypto.com))) has announced a layoff of approximately 12% of its workforce, citing the need to adjust its operations to adapt to advancements in AI capabilities. According to Straits Times, this round of layoffs involves around 180 employees. (((Crypto.com))) CEO Kris Marszalek posted on the X platform, stating that companies failing to undergo this transformation immediately will face failure, while those that act swiftly and combine the best AI tools with top talent will achieve previously unattainable scale and precision. This layoff represents the latest cost-cutting move in the digital finance industry. Earlier this year, cryptocurrency exchange Gemini Space Station Inc. laid off approximately 25% of its workforce and shut down its operations in the UK, Europe, and Australia. Last month, Block Inc., owned by Jack Dorsey, announced layoffs of nearly half its staff, citing the belief that AI will fundamentally change the industry.