Crypto.com Cuts 12% of Workforce, CEO Cites Enterprise-Wide AI Integration

Crypto.com Announces 12% Workforce Reduction

Crypto.com CEO Kris Marszalek announced a 12% layoff on Thursday, citing the company's integration of "enterprise-wide AI." In a post on X, Marszalek said the affected roles "do not adapt in our new world." A Crypto.com spokesperson confirmed that all affected team members had been notified and that the company was continuing to "prioritize resources around key growth areas and drive efficiencies across our business."

The announcement did not specify the absolute number of jobs cut. Cointelegraph reported that Crypto.com lists around 1,500 employees, which would mean the 12% reduction affects about 180 staff members. Business Insider also reported the 12% figure but did not provide an absolute number.

CEO's Rationale and Warnings

Marszalek framed the AI pivot as existential for companies. He wrote that non-adopters will "immediately fail" and that slow movers will be "left behind." He added that companies moving immediately and pairing the best AI tools with top performers will achieve a level of scale and precision previously impossible. The CEO's statements explicitly link the layoffs to AI adoption, distinguishing this event from restructuring attributed to other causes.

Previous Layoffs at Crypto.com

The company previously cut 20% of its workforce in 2023, citing damaged trust in the crypto industry following the collapse of FTX. Crypto.com also cut jobs in 2022 during a market slump. Those earlier reductions were attributed to different reasons and are separate from the current AI-linked layoffs.

Broader Trend of AI-Linked Layoffs

Marszalek joins a growing list of executives citing AI as a reason for job cuts. In February, Block CEO Jack Dorsey said that a "significantly smaller team using the tools we're building can do more and do it better" when the company cut about 40% of its staff. Some laid-off Block employees told Business Insider they were big AI users but were still let go. In March, Atlassian cut 1,600 jobs, roughly 10% of its global workforce, with CEO Mike Cannon-Brookes describing the cuts as a repositioning for the "AI era."

Other crypto and tech companies have also announced AI-linked reductions. On Monday, blockchain analytics platform Messari announced more staff cuts as part of its pivot to an AI-first company; it had previously laid off roughly 15% of full-time employees in January 2025 and made a similar reduction in February 2023. On Wednesday, the Algorand Foundation announced a 25% staff reduction, citing macroeconomic uncertainty and the current crypto market slump. Block's layoffs in February affected about 4,000 workers, some of whom have already returned, according to multiple employees.

AI Attribution and Skepticism

While Marszalek explicitly attributes the cuts to AI integration, OpenAI CEO Sam Altman has complained that many companies are engaging in "AI washing," or blaming the technology for layoffs the company would still need to do otherwise. This event is distinct from estimates; the 12% figure is an announced reduction, and the absolute number of affected employees is not officially confirmed. The company's recent AI initiatives include the launch of the AI agent platform ai.com on Feb. 9 and receiving the ISO/IEC 42001:2023 certification for AI system management in February.

Sources

• Crypto.com CEO Announces 12% Layoffs, Citing AI Job Adaptation - Business Insider
• Crypto.com to Cut 12% of Workforce due to Enterprise AI Integration