Crypto.com Sheds 12% of Its Human Bagholders to Fuel Its AI Gambit – CEO Calls It a ‘Do or Die’ Moment

Crypto.com is trimming roughly 12% of its workforce—a classic corporate "rug pull"—as it goes all-in on an "enterprise-wide AI" master plan. CEO Kris Marszalek issued the standard tech-bro warning, declaring that companies slow to adopt AI will be left holding bags of obsolescence, while the fast movers might achieve "scale and precision previously impossible," a phrase usually reserved for describing a perfectly timed exit liquidity event.

This latest round of pink slips is targeting roles that don't align with the new AI-first doctrine, essentially any job a clever algorithm could probably do after a few weeks of browsing Reddit. The affected employees have been notified and will receive "transition support," which in corporate speak often translates to a severance package and a link to a LinkedIn tutorial.

The pivot follows Crypto.com's headline-grabbing $70 million splurge on the premium domain AI.com, a purchase so extravagant it signals a commitment to artificial intelligence that goes far beyond just adding "AI" to a tweet for the pumps. It's the digital equivalent of buying a Lambo just to park it in your Twitter banner.

Across the crypto industry, firms are now mixing standard cost-cutting with long-term bets on automation, a trend as predictable as the post-halving sell-off. Unlike the old bear-market layoffs, Crypto.com is framing these cuts as a "structural reset"—a fancy way of saying they're replacing human tasks with AI-augmented workflows, because apparently bots don't ask for raises or take lunch breaks.

For a bit of context, the Algorand Foundation announced on March 18 that it's cutting 25% of its staff, blaming macro uncertainty and generally weak market conditions. While Algorand's reductions are the classic "market is tough" narrative, Crypto.com's are driven by a strategic tech realignment, a distinction as meaningful as whether you got liquidated on a leveraged long or a leveraged short—the result is the same empty wallet.