Coinbase latest crypto firm to slash staff citing market conditions and AI shift. Reduces it by 14%.

CoinDesk Staff

(11:38 AM UTC)

1 min read

Coinbase cuts 14% of staff as AI reshapes how crypto companies operate

Brian Armstrong, the CEO at Coinbase, announced a workforce reduction of roughly 660 from its current 4,700.

Coinbase is set to slashing its workforce by roughly 14%, or 660 employees in response to negative market conditions and AI challenges.

CEO Brian Armstrong announced the cuts in an X post on Tuesday, citing the "two…

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