Crypto.com Cuts Staff by 12% in ‘Enterprise-Wide AI’ Pivot

Cryptocurrency exchange Crypto.com is cutting 12% of its workforce, or about 180 employees, as part of a shift to AI-driven operations.

In a tweetCEO Kris Marszalek explained that this move was the beginning of “corporate AI,” announcing that “Companies that don’t make this pivot immediately will fail.” This movement represents the third is to reduce the workforce in four years of the platform from Singapore.

Exchange spokesperson he says he said that all affected employees have been notified, and will be supported throughout the process.

Crypto Exchange

The withdrawal comes amid a major overhaul of the crypto market this week, as companies face economic headwinds and look for ways to operate using automation and artificial intelligence.

The The Algorand Foundation cut 25% of its workforce On Wednesday, citing “uncertainty around the world,” the crypto data company Messari this week created its own AI pivot and staff reductions and leadership changes. Last month, the crypto-focused fintech company Block reduced its workforce to 6,000 employees, with CEO Jack Dorsey. to announce that the move was in response to “intelligent tools” that enabled new ways of working.

Crypto.com has been changing its output, last month it announced the launch of a market forecasting in the US

The company has been renovating in Washington, D.C., for the past month obtain a valid permit for a national bank document from the Office of the Comptroller of the Currency that would enable the digital economy to be regulated by the government, deposit, and refund if approved. The signing took place just a few weeks after the company donated $5 million to the pro-Trump super PAC.