Artificial intelligence is no longer just a trendy buzzword and is beginning to genuinely reshape the cryptocurrency market. In recent days, several well-known companies have announced layoffs, and a common denominator for these decisions is automation and the large-scale implementation of AI.
Crypto.com plans to lay off about 12% of its team.
The Algorand Foundation is reducing its workforce by 25%.
In the background, the role of AI is increasing and there is pressure to cut costs during the bear market.
The crypto industry is entering a new phase.
What seemed like a distant forecast not long ago is now becoming a reality. The cryptocurrency sector, itself associated with a technological revolution, is beginning to undergo another transformation — this time driven by artificial intelligence.
The loudest example in recent days is Crypto.com. The exchange plans to reduce its workforce by about 12%, or roughly 180 people. The CEO of the company, Kris Marszalek, made it clear that this is not just about ordinary cost-cutting.
According to him, the company is transitioning to a model in which AI is to be implemented in practically every segment of operations. Marszalek stated directly that enterprises that do not make this shift quickly enough will simply lose the competition.
However, this is not an isolated case. Almost simultaneously, the Algorand Foundation announced a 25% reduction in its workforce. Officially, the reasons cited were the difficult macroeconomic environment and the slowdown in the cryptocurrency market, but the broader picture of the industry shows that AI is becoming an increasingly important part of the puzzle.
Similar moves have already been made by other well-known companies, including Messari and Block of Jack Dorsey. The latter argued for the reductions directly by stating that artificial intelligence fundamentally changes the way business is conducted.
In practice, this means one thing: companies in the crypto industry want to operate faster, cheaper, and more efficiently. AI provides them with the tools to achieve these goals, but at the same time reduces the demand for some employees.
This does not mean that the entire job market in crypto is shrinking. A more accurate statement would be that the market is being rebuilt. Some positions will disappear, while others—related to automation, AI products, and new infrastructure—will emerge.