Crypto.com cuts 12% of workforce in AI integration push

Investing.com -- Crypto.com announced on Thursday it is eliminating approximately 12% of its workforce as the exchange integrates artificial intelligence across its operations.

The Singapore-based cryptocurrency exchange said the cuts are necessary to adapt its business to rising AI capabilities. According to the Straits Times, the reduction affects roughly 180 employees. A spokesperson for Crypto.com declined to provide additional comment.

Chief Executive Officer Kris Marszalek addressed the decision in a post on X on Thursday, stating that companies failing to make this transition immediately will not survive. He added that organizations moving quickly to combine top AI tools with high-performing employees will reach levels of scale and precision that were not previously achievable.

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