More Tech Layoffs: Coinbase Cuts 14% of Workforce in AI Push

Coinbase will lay off about 700 employees as CEO Brian Armstrong pushes a leaner, AI-native structure amid weaker crypto trading conditions.

Mysterious trader files lawsuit against Coinbase ahead of earnings

Coinbase is set to report earnings on May 7.

Coinbase cuts headcount by 14% citing AI acceleration. The shares are gaining

Coinbase will cut roughly 14% of its workforce, citing a combination of market volatility and the how AI is quickly changing how the company operates.

Coinbase didn’t just lay off 14% of its staff due to AI. It replaced managers with 'player-coaches' and turned its org chart upside down

“We are not just reducing headcount and cutting costs, we’re fundamentally changing how we operate,” CEO Brian Armstrong said.

Coinbase is laying off 14% of staff, citing AI. Read the letter from its CEO.

In a Tuesday X post, CEO Brian Armstrong said the cuts were to "be leaner, faster, and more efficient for our next phase of growth."

91-year-old Wall Street bank to challenge Coinbase, Robinhood

Launched in 2012, Coinbase (Nasdaq: COIN) is now the largest cryptocurrency trading exchange in the United States. The brokerage firm Robinhood Markets (Nasdaq: HOOD), launched in 2013, has also become very popular among crypto traders. But a Wall Street bank is now attempting to challenge these dominant players with lower fees.