Overview
- About 180 roles were eliminated, and the company says all impacted employees have been notified and given transition support.
- CEO Kris Marszalek warned that companies that fail to adopt enterprise-wide AI will fail, saying roles that "do not adapt" were targeted.
- This is the third workforce reduction in four years after cuts in 2022 and a 20% downsizing in 2023; the firm had roughly 1,500 employees before the latest move and reports 100 million accounts with $750 billion in 2025 trading volume.
- Recent steps signaling the AI push and regulatory expansion include a $70 million purchase of the ai.com domain and conditional U.S. approval to establish a national trust bank.
- The layoffs follow a wider industry pattern of AI-linked reductions reported at companies including Block and Algorand Foundation.