Coinbase cuts 14% of staff as Armstrong ties cost reset to AI and market volatility
CryptoSlate
Coinbase is laying off 14% of its workforce to reduce costs, citing market volatility and productivity gains driven by artificial intelligence.Summary
Coinbase has announced a restructuring plan to lay off approximately 700 employees, representing 14% of its staff, at a cost of $50 million to $60 million. CEO Brian Armstrong attributed the decision to crypto market volatility and the integration of artificial intelligence, which he claims allows for a leaner, more efficient operating model. By flattening the organization and emphasizing AI-native teams, Coinbase aims to lower its cost base while preparing for the next phase of growth.
(Source：CryptoSlate)