Singapore-based crypto exchange Crypto.com is cutting about 12% of its workforce, or roughly 180 employees, as it leans into AI-driven efficiency, joining a growing wave of firms shrinking teams while betting on automation.

“We are joining the list of companies integrating enterprise-wide AI,” a Crypto.com spokesperson told CoinDesk. “As we continue to prioritize resources around key growth areas and drive efficiencies across our business, we reduced our workforce by approximately 12%.”

Kris Marszalek, Crypto.com’s CEO, on X said companies that do not pivot toward the integration of AI into their processes will fail.

“Companies that move slowly will be left behind,” he added. “Companies that move immediately and pair the best AI tools with…