Coinbase is cutting 14 percent of its staff.

As Reuters reports, the crypto exchange is laying off around 700 employees. CEO Brian Armstrong wrote in a letter to staff that crypto is “currently in a down market,” which, along with increasing use of AI, is pushing Coinbase to reduce costs.
[Link: Crypto exchange Coinbase to cut about 14% of workforce | https://www.reuters.com/business/world-at-work/coinbase-cut-about-14-workforce-2026-05-05/ | Reuters]

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Coinbase is cutting 14 percent of its staff.
As Reuters reports, the crypto exchange is laying off around 700 employees. CEO Brian Armstrong wrote in a letter to staff that crypto is “currently in a down market,” which, along with inc… [558 chars]

Source: The Verge | Published: 2026-05-05T13:02:03Z

Credit: The Verge