- Crypto firms have laid off hundreds of employees so far this year.
- They broadly attribute the cuts to AI.
- It’s unclear if firms are simply window dressing pre-planned cutbacks.
Crypto firms are cutting hundreds of employees from their workforces despite a hiring spree for crypto roles among some of Wall Street’s biggest firms.
Some of the latest victims? Employees at Crypto.com, a Singapore-based crypto exchange founded in 2016, who announced on Thursday that it had cut 12% of its workforce.
And like many of the firms reducing their workforce, Crypto.com broadly blames their actions on one thing: artificial intelligence.
“We are joining the list of companies integrating enterprise-wide AI,” Kris Marszalek, Crypto.com’s CEO and…
