Crypto.com reduces workforce by 12% while implementing AI technology to enhance operational efficiency.

The exchange has terminated approximately 180 employees as it undergoes restructuring and implements enterprise-wide AI to enhance efficiencies.

Crypto.com indicated that the integration of AI was the reason behind the dismissal of approximately 180 employees. (Jesse Hamilton/Coindesk)

What to know:

• Crypto.com has reduced its workforce by about 12%, totaling around 180 employees, as it restructures and intensifies its focus on artificial intelligence to enhance efficiency.
• CEO Kris Marszalek has cautioned that businesses that do not swiftly adopt AI into their operations will be "left behind," following the company’s $70 million acquisition of the ai.com domain and increased industry investment in AI.
• The layoffs represent the latest in a series of workforce reductions at Crypto.com and occur alongside similar AI-related job cuts across the technology and cryptocurrency sectors, even as the exchange gains conditional approval in the U.S. to establish a federally regulated crypto trust bank.

Based in Singapore, Crypto.com is eliminating about 12% of its workforce, or roughly 180 employees, as it focuses on AI-driven efficiency, becoming part of a growing trend of companies reducing staff while investing in automation.

"We are joining the ranks of companies implementing enterprise-wide AI," a representative from Crypto.com informed CoinDesk. "As we continue to allocate resources towards critical growth areas and enhance efficiencies throughout our operations, we have reduced our workforce by around 12%.”

Kris Marszalek, the CEO of Crypto.com, stated on X that companies that do not adapt to the integration of AI into their workflows will not succeed.

"Companies that act slowly will be left behind," he remarked. "Firms that act promptly and combine the finest AI technologies with top talent will achieve levels of scale and accuracy that were previously unattainable. This is the direction we must pursue."

In February, Marszalek noted that Crypto.com invested $70 million in acquiring ai.com, signaling the company’s entry into the artificial intelligence market, a sector projected to reach nearly $1.5 trillion in global spending by 2025, according to Gartner.

The exchange from Singapore had approximately 1,500 employees before the layoffs.

This action marks the most recent layoffs at Crypto.com, which has downsized its workforce multiple times in recent years amid changing market conditions and internal restructuring, including a 20% workforce reduction in 2023.

Crypto.com’s job cuts also follow Block’s decision to reduce its workforce of 6,000 by 40%. Its founder and CEO, Jack Dorsey, cited productivity gains from AI as the rationale for the layoffs, stating that AI enables smaller teams to operate more swiftly.

In January, OKX announced a restructuring of its global institutional business, leading to job losses that it described as not a "mass layoff." The exchange did not provide a specific number. During the same month, Polygon laid off 60 employees, countering claims that it reduced 30% of its workforce. In the U.S., the technology sector eliminated approximately 22,291 jobs last year.

The spokesperson for Crypto.com stated that all employees, who before the layoffs numbered around 1,500 globally, have been informed and will receive resources to assist in their transition.

The Singapore-based exchange, which reported having 100 million registered accounts and approximately $750 billion in trading volume in 2025, recently obtained conditional approval from the U.S. Office of the Comptroller of the Currency (OCC) to create a national trust bank, paving the way for the exchange to broaden its custody services under federal oversight.