Crypto.com is laying off 12% of its workforce as part of an AI-driven overhaul on 19 March 2026, joining a wave of cryptocurrency and tech companies replacing human workers with automation. The move affects hundreds of employees at the Singapore-based exchange, which has historically maintained a workforce of 5,000-6,000 people.
CEO Kris Marszalek said, "Companies that move slowly will be left behind."
Crypto.com's restructuring mirrors aggressive cuts across the digital asset sector. The cuts align with a broader tech industry contraction that has eliminated 45,363 jobs worldwide since January 2026, with approximately 20% directly attributed to AI adoption, according to RationalFX tracking data. TrueUp reports 55,755 people impacted across 162 layoff events this year, while Challenger data shows 156,742 year-to-date US cuts with AI explicitly cited for 12,304.
"Companies that move immediately and pair the best AI tools with top performers will achieve a level of scale and precision that was previously impossible. This is where we must go."
Read More: Why is Crypto Down Today?
Block, Gemini, Messari Announce Layoffs
Messari, a leading cryptocurrency market data and research platform, announced that CEO Eric Turner has stepped down, and Chief Technology Officer Diran Li has assumed the top role. "Today, I stepped down as CEO of Messari and handed the reins to Diran," Turner stated. "This wasn't an easy decision, but it's the right one for the company's next phase, and he has my full support."
This marks Messari's third significant round of layoffs in recent years. The company cut approximately 15% of its full-time staff in January 2025 and implemented similar reductions in February 2023.
Block CEO Jack Dorsey explicitly tied the decision to AI productivity gains rather than financial distress. "AI efficiency and Bitcoin expansion are not competing, financed by productivity," Dorsey stated, emphasizing the replacement of employee functions with automated tools.
Gemini, the Winklevoss twins' exchange, cut up to 200 workers, roughly 25% of its global team, in early 2026 amid a $159.5 million Q3 2025 loss and regional market exits.
People Express Anger On X
As companies announce one layoff after another, justifiably so, people are expressing their anger on X.
"Letting them go may save money in the short term, but it often weakens the company in the long run. Real progress comes from using AI to support skilled workers, not from replacing them just to stand still and cut expenses," said X user.
US labor data shows information-sector employment declined 11,000 jobs in February 2026, with nonfarm payrolls dropping 92,000 overall and unemployment holding at 4.4%. Tech hiring plans are running 56% below 2025 levels, according to industry trackers.