Crypto.com cuts staff for AI integration
Crypto.com, the cryptocurrency platform known for its celebrity endorsements, has announced it is cutting around 12% of its staff, which amounts to approximately 180 roles.
According to CEO Kris Marszalek, this decision is tied to the company's strategy to integrate artificial intelligence (AI) across all business areas. He noted that AI will be a key driver of Crypto.com's long-term growth and efficiency.
This is not the first staff reduction in the crypto industry over the past year. Many companies, including Coinbase, BlockFi, and Gemini, have been forced to take similar measures amid unstable market conditions and declining user activity. However, Crypto.com is betting on the implementation of advanced technologies to adapt to the new realities.
Expert opinion: Crypto.com's strategy of integrating AI seems justified in the current environment. Automation and increased business process efficiency can help the company weather the crisis and maintain competitiveness. However, staff reductions are always painful for an organization, so it is important that Crypto.com pays close attention to supporting and retraining the released personnel.