Embrace AI or Get Left Behind: Job Cuts Sweep Through Crypto (1)

A spate of AI-tinged job cuts at crypto and payments companies has brought up a curious question for analysts and investors: how does one assess whether the artificial intelligence part is real?

The debate started in February after Block Inc., the owner of Square and Cash App, announced it would cut a whopping 50% of staff, citing a secular change in how AI affects its operations. Gemini Space Station Inc. and Crypto.com made similar announcements, followed by Coinbase Global Inc. and PayPal Holdings Inc.this week.

“The biggest risk now is not taking action,” Coinbase Chief Executive Officer ...