Crypto exchange Crypto.com has reduced its workforce by approximately 12% as part of a strategic push to integrate artificial intelligence across its operations. The move follows the company’s earlier acquisition of the premium domain AI.com for a reported $70 million, signaling a deep commitment to AI. Meanwhile, the Algorand Foundation separately confirmed a 25% workforce reduction, citing macroeconomic uncertainty and crypto market weakness.
Crypto.com‘s CEO Kris Marszalek framed the layoffs as a pivot toward “enterprise-wide AI.” Marszalek stated companies that fail to pivot “will fail,” while those that move quickly could achieve “a level of scale and precision that was previously impossible.”
The affected roles were deemed incompatible with this new AI-focused direction. Affected employees have been notified and are receiving transition support.
The company’s decision reflects a shift toward combining cost discipline with long-term AI bets rather than purely reacting to market conditions. It framed the layoffs as a structural reset to replace traditional roles with AI-augmented workflows.
This marks an evolution from past downturns where layoffs were tied to collapsing prices and liquidity crises. Now, workforce reductions are also being driven by technological realignment.
In a related development, the Algorand Foundation confirmed a 25% workforce reduction on 18 March. The Foundation cited macroeconomic uncertainty and continued weakness in crypto markets.
Unlike Crypto.com’s AI-led restructuring, Algorand’s layoffs appear more directly linked to external pressures. The Foundation described the decision as a move to better align resources with long-term priorities.
