"Companies that move slowly will be left behind," he added. "Companies that move immediately and pair the best AI tools with top performers will achieve a level of scale and precision that was previously impossible. This is where we must go."
In February, Marszalek said Crypto.com spent $70 million to buy ai.com, signaling his company's move into artificial intelligence, a sector that reached nearly $1.5 trillion in worldwide spending in 2025, according to Gartner.
The Singapore-headquartered exchange had around 1,500 employees before the cuts.
The move marks the latest round of layoffs at Crypto.com, which has trimmed staff multiple times in recent years amid shifting market conditions and internal restructuring, including a 20% workforce reduction in 2023.
Crypto.com's layoffs also follow Block's decision to reduce its 6,000-strong workforce by 40%. Its founder and CEO, Jack Dorsey, cited AI-enabled productivity gains as the reason for the cuts. He said AI allows smaller teams to move faster.
In January, OKX announced it was restructuring its global institutional business, resulting in job losses it claimed were not a "mass layoff." The exchange didn't mention the exact number. That same month, Polygon laid off 60 employees, disputing reports it let go 30% of its staff. In the U.S., the technology industry cut about 22,291 jobs last year.
The Crypto.com spokesperson said all employees, who before the layoff totalled roughly 1,500 worldwide, have been notified and will receive resources to support their transition.
The Singapore-based exchange, which boasted 100 million registered accounts and approximately $750 billion in trading volume in 2025, recently received conditional approval from the U.S. Office of the Comptroller of the Currency (OCC) to establish a national trust bank, setting the stage for the exchange to expand its custody services under federal oversight.
coindesk.com
