Crypto.com Management Shakeup: Layoffs and Restructuring Amid Bear Market
The crypto winter continues to bite, and even major players like Crypto.com are feeling the chill. Recent reports highlight significant changes at the company, including substantial layoffs and shifts in management structure. This comes as the crypto market grapples with ongoing downturns and the lingering effects of past industry collapses.Early Friday morning, retail-focused crypto exchange Crypto.com, the third-largest company in the space by headcount, announced it would be laying off 20% of its staff. This significant reduction reflects the challenging economic environment and the need for Crypto.com to adapt to the current market realities.
Crypto.com joined the growing list of firms that have dismissed their employees in 2025. Previous cuts were already in effect. In an announcement by its CEO, Kris Marszalek, on January 13, Crypto.com announced it would lay off 260 people, or 5% of its corporate workforce, as the markets continue to head into a downturn, CEO Kris Marszalek said in a tweet on Saturday. Now, Crypto.com’s CEO announced cutting off 20% of the firm’s workforce. According to Kris Marszalek, the decision resulted from worsening economic conditions.
The current 20% workforce reduction marks a further step in Crypto.com's efforts to streamline operations. In crypto exchange, Crypto.com has announced a 20% reduction of its workforce citing the unexpected effect of the FTX collapse. This event clearly had a cascading impact throughout the industry.
Amidst this, the exchange was making changes to its management. In a recent blog post, Crypto.com announced that the COO of the firm Eric Anziani is now the... (Further details on Anziani's role are expected to be released imminently.) These changes suggest a strategic realignment within the company to navigate the current market climate.
The co-founder and CEO of Crypto.com, Kris Marszalek, has announced a new wave of staff layoffs that will reduce its global workforce by another 20%, citing poor [market conditions and the need for a more sustainable business model]. This restructuring aims to position Crypto.com for long-term success despite the present challenges.
Stay tuned for updates as Crypto.com continues to navigate the crypto bear market and adapt to the evolving landscape.