Story perspectives

Crypto.com Cuts 12% Workforce to Embrace AI Shift

3/21/2026

Summary

Story summary

Crypto.com announced a 12% workforce reduction, affecting about 180 employees, to shift its operations toward artificial intelligence.
CEO Kris Marszalek of Crypto.com said roles not adapting to the new AI strategy were eliminated.
Marszalek also warned that companies failing to pivot to AI will be left behind.
The 2023 layoff of 20% followed the FTX collapse, illustrating the broader AI-driven job-cut trend.
Crypto.com is based in Singapore and operates globally.

History

Historical Context

The dot-com bubble peaked in March 2000, leading to a dramatic market crash that resulted in significant layoffs across tech companies, with many firms reducing their workforce by 50%. This historical context parallels recent layoffs in the gaming industry, where companies like Crypto.com and Electronic Arts have cut jobs amid unsustainable growth and shifting market demands, reflecting ongoing challenges in adapting to technological advancements.

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Story summary

Crypto.com announced a 12% workforce reduction, affecting about 180 employees, to shift its operations toward artificial intelligence.
CEO Kris Marszalek of Crypto.com said roles not adapting to the new AI strategy were eliminated.
Marszalek also warned that companies failing to pivot to AI will be left behind.
The 2023 layoff of 20% followed the FTX collapse, illustrating the broader AI-driven job-cut trend.
Crypto.com is based in Singapore and operates globally.

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