Singapore-based crypto exchange Crypto.com is cutting about 12% of its workforce, or about 180 employees, as it relies on AI-driven efficiency, joining a growing wave of companies that are reducing teams while betting on automation.
“We are joining the list of companies integrating AI enterprise-wide,” a Crypto.com spokesperson told CoinDesk. “As we continue to prioritize resources around key growth areas and improve the efficiency of our business, we have reduced our headcount by approximately 12%. »
Kris Marszalek, CEO of Crypto.com, on
“Companies that move slowly will be left behind,” he added. “Companies that act immediately and combine the best and most capable AI tools will achieve a level of scale and precision that was previously impossible. That’s where we need to go.”
In February, Marszalek said Crypto.com would buy ai.com for $70 million, signaling his company’s shift into artificial intelligence, a sector that has reached nearly $1.5 trillion in global spending in 2025, according to Gartner.
The Singapore-based exchange had around 1,500 employees before the cuts.
The move marks the latest wave of layoffs at Crypto.com, which has reduced its workforce several times in recent years amid changing market conditions and internal restructuring, including a 20% workforce reduction in 2023.
Crypto.com’s layoffs also follow Block’s decision to cut its 6,000 employees by 40%. Its founder and CEO, Jack Dorsey, cited productivity gains through AI as the reason for these reductions. He said AI allows small teams to move forward more quickly.
In January, OKX announced it was restructuring its global institutional operations, resulting in job losses that it said did not constitute a “mass layoff.” The exchange did not mention the exact number. The same month, Polygon laid off 60 employees, disputing reports that 30% of its employees had been laid off. In the United States, the technology industry shed approximately 22,291 jobs last year.
The Crypto.com spokesperson said all employees, who prior to the layoff numbered approximately 1,500 people worldwide, have been informed and will receive resources to support their transition.
The Singapore-based exchange, which had 100 million registered accounts and a trading volume of around $750 billion in 2025, recently received conditional approval from the US Office of the Comptroller of the Currency (OCC) to establish a national fiat bank, paving the way for the expansion of its federally supervised custody services.