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A major cryptocurrency exchange announced last month that they are reducing their staff by 30%.
They apparently introduced AI tools to improve productivity.
Last year, they recorded losses of over $500 million, so they might be experiencing ongoing financial difficulties.
The current number of employees has apparently decreased to about 445.
This company, headquartered in New York, apparently hasn't provided any business outlook for 2026, so it's probably in a pretty tough situation.
If even large exchanges are facing this, it might be a difficult time for the entire industry.
It would be good if AI implementation could improve efficiency, but we'll see what happens.