With the bitcoin price still sitting roughly 44% below the all-time high of around $125,000 hit in October, a number of crypto firms have announced staff cuts. Notably, various integrations and upgrades of internal processes to include more use of AI have been at the center of the press releases associated with these cuts.

On Thursday, it was announced that Crypto.com would be laying off roughly 12% of its entire workforce. In a statement, Crypto.com CEO Kris Marszalek said the areas of the business that will be affected by the layoffs are those which do not adapt to the increased use of AI across the entire company. “We are joining the list of companies integrating enterprise-wide AI,” Marszalek said on X….