Crypto.com Cuts 12% Staff to Push AI Transformation; CEO Says Non-Transforming Companies Will Fail

Crypto.com co-founder and CEO Kris Marszalek recently announced the company will integrate AI across the board and lay off about 12% of its staff for this purpose. He stated that companies not immediately transforming to AI will fail, slow movers will be eliminated, and those quickly combining advanced AI tools with top talent can achieve unimaginable scale and efficiency.

The layoffs target roles unable to adapt to the new environment, and affected employees have received notifications and transition support. Unlike the defensive cuts during the 2022 bear market, this layoff is a strategic move to proactively push AI transformation, marking the large exchange's determination to evolve from a crypto firm to a tech-driven fintech enterprise.