Crypto.com Cuts 12% of Staff and Pins Job Losses on AI Push

Digital-asset exchange Crypto.com said it is axing around 12% of its workforce, citing a need to adapt its business to rising artificial intelligence capabilities.

The Singapore-headquartered exchange is integrating AI across its business, giving it room to reduce headcount, it said in a statement on Thursday. That equates to roughly 180 employees, according to the Straits Times, which earlier reported the layoffs. A Crypto.com spokesperson declined to comment further.