Cryptocurrency company has laid off hundreds of jobs in weeks and blamed weak markets and powerful artificial intelligence

Algorand, Gemini, Block, Crypto.com, OPLabs, PIPLabs and Messari have all made layoffs in recent weeks. Reasons given by companies include weak token prices and artificial intelligence integration. In January, the number of new positions posted on major cryptocurrency recruitment websites was approximately 6.5 per day, a decrease of approximately 80% from the same period last year. The companies mentioned in this article alone (excluding Messari, which did not disclose specific figures) announced layoffs of about 450 people in just a few weeks. According to statistics, during the winter of cryptocurrency in 2022, more than 26,000 jobs were lost throughout the year, and this number did not gradually emerge until several months later.