Coinbase Layoffs: Brian Armstrong Cuts 700 Jobs As AI Reshapes Crypto Exchange
Coinbase Global will cut about 700 jobs, or 14% of its workforce, as it restructures to focus on AI-driven operations, according to a regulatory filing Tuesday. The company expects $50 million to $60 million in restructuring expenses, mostly for severance. Shares rose 6.1% in early trading. CEO Brian Armstrong said affected staff lost system access immediately and will receive at least 16 weeks’ pay.