Singapore, March 20: Crypto.com has announced a 12 per cent reduction in its global workforce as part of a strategic shift to integrate artificial intelligence across its operations. Chief Executive Officer Kris Marszalek confirmed the decision on Thursday, stating that the restructuring is necessary for the company to adapt to a “new world” where AI tools redefine corporate efficiency and execution.

The company, which is headquartered in Singapore, has already notified affected team members, though a spokesperson declined to provide the exact number of employees impacted by the cuts. This move follows a previous round of lay-offs in 2023, when the firm reduced its headcount by 20 per cent following the collapse of the FTX exchange and a broader downturn in the digital asset market. Goldman Sachs to Shift From Large-Scale Layoffs to Rolling Staff Reductions Starting April 2026.

Layoffs at Crypto.com: AI Strategy Drives Workforce Restructuring

In a statement posted on X, Marszalek emphasised that the pivot to AI is an existential requirement for modern firms. “Companies that do not make this pivot immediately will fail,” he wrote, adding that the reduction specifically targets roles that do not easily adapt to the company’s new AI-centric structure.

The strategy coincides with significant investment in the sector. In February, Marszalek reportedly acquired the domain “AI.com” for USD 70 million, which is considered the highest disclosed price for a domain name. The acquisition served as a foundation for the company’s AI agent launch, which was featured in a 30-second advertisement during this year’s Super Bowl.

Crypto Layoffs, Tech Industry Embracing AI

Crypto.com is the latest in a series of technology and fintech firms to cite AI as a primary driver for workforce reductions. Block recently implemented a 40 per cent staff cut, with Chief Executive Officer Jack Dorsey noting that smaller teams utilising intelligence tools can “do more and do it better”. Similarly, Atlassian reduced its staff by 10 per cent last week to self-fund further AI investments.

Meta is also reportedly planning lay-offs that could affect up to 20 per cent of its employees. Industry analysts suggest these restructurings are intended to offset the high capital expenditure required for AI infrastructure while preparing for the increased productivity expected from AI-assisted workflows.

AI Impact on Entry-Level Jobs

The proliferation of AI agents is also shifting the hiring landscape for new professionals. Bill McDermott, Chief Executive Officer of ServiceNow, recently warned that the automation of entry-level tasks could lead to a significant rise in unemployment among new college graduates over the next few years. As AI agents begin to handle routine technical and administrative work, the “mix of skills” required by firms is changing rapidly. Block Layoffs: Jack Dorsey’s Company Rehires Select Staff Members Following Significant Workforce Reductions.

Despite the immediate job losses, Crypto.com maintains that the new structure will prepare the company for continued success in the volatile cryptocurrency market. The platform continues to focus on prudent financial management while positioning itself as a leader in the integration of enterprise-level artificial intelligence.

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(The above story first appeared on LatestLY on Mar 20, 2026 10:50 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).