--- title: "Crypto.com Reportedly Doing More Layoffs After Promising It Wouldn’t" description: "Though the company has yet to make a public announcement, embattled cryptocurrency exchange Crypto.com is reportedly set to make another round of layoffs." date: "2022-08-17" modified: "2022-08-17" authors: - name: "Maggie Harrison Dupré" job_title: "Senior Staff Writer" link: "https://futurism.com/authors/mharrison" url: "https://futurism.com/the-byte/crypto-com-reported-firing" categories: - "Blockchain" - "Cryptocurrency" - "Future Society" tags: - "crypto" - "cryptocurrencies" - "cryptocurrency exchanges" - "the digest" --- # Crypto.com Reportedly Doing More Layoffs After Promising It Wouldn’t ![Though the company has yet to make a public announcement, embattled cryptocurrency exchange Crypto.com is reportedly set to make another round of layoffs.]() *\Image: Getty Images/Futurism\* ## Hush Hush Though the company has yet to make a public announcement, [*Decrypt* reports]() that embattled cryptocurrency exchange Crypto.com is set to make yet another round of mass layoffs. What was that about [fortune favoring the brave]()? The trading platform [cut an initial five percent]() of its workforce back in June, amid a broader wave of mass cryptosphere layoffs. Now, according to several unnamed employees, execs are looking to once again slash every expense they possibly can — and from the testimonies given to *Decrypt*, it also looks like they *really* don't want to make those cuts public. "Leadership expressed they had no intention of going public," said one source, who said that the internal announcement was made in an all-hands meeting last Friday. "Top management is unlikely to do an announcement as, after the June layoffs, they claimed that everyone's job was safe, and that no more layoffs will happen." ## Not Good Details are scarce, but according to the employees who spoke to *Decrypt*, the latest round of cuts will be even bigger than June's. And while the June layoffs were mostly limited to "elastic" service and growth positions, the pending slashes will allegedly impact workers in product engineering positions as well, which isn't exactly a great sign for the Singapore-based exchange. "The business is cutting down to bare minimum to survive the likely long bear market — internal initiatives are about trying to save every penny," another source added. ## Extremely Vague In a statement, Crypto.com abstained from from confirming — or denying — any new cullings. "We announced reductions in June, and since that time we have optimized our workforce to align with current external economic headwinds," a spokesperson told *Decrypt*. "We have a strong balance sheet and will continue to invest in product, engineering, and brand partnerships moving forward." Sure. But anyone who strikes a two-decade, $700 million deal with the Los Angeles Lakers to [rename the Staples Center]() is probably gonna have to tighten their budget. **READ MORE**: [*Second Layoff Round at Crypto.com Worse than June Cuts: Sources*]() \[*Decrypt*\] **More on June's Crypto.com cuts:** *[Crypto Exchanges Lay Off Thousands, Months After Uber-Expensive Super Bowl Ads]()* ## Author At Futurism, I've reported extensively on the rise of AI as a cultural and business force shaping the media industry, and more broadly how those dynamics are changing how we all consume and share information and relate to one another. I'm also fascinated by public health policy and ethics, the role of emerging tech in politics and governance — and the powerful people and forces at those intersections — climate change, and the environment. My investigation on Sports Illustrated's use of AI-generated authors with fictional biographies won a 2024 Mirror Award for "Best Story on Media Coverage of Artificial Intelligence in Journalism and the Media" from Syracuse University's SI Newhouse School, I contributed to Niemen Lab's 2025 Predictions for Journalism series, and I've discussed my work for Futurism during appearances on NPR, CNN, the BBC, the CBC, and more. I grew up in rural Pennsylvania and attended the University of Massachusetts Amherst, where I played Division I field hockey for the Minutewomen as a midfielder. Since then, I've lived in New Orleans, Louisiana and Manhattan, New York. I spend my free time running, reading, perusing archival fashion, and searching for the world’s best negroni. I also have a debonair tuxedo cat, Westley, who's named after "The Princess Bride." ### Author social links [Bluesky]()