Coinbase Layoffs: Brian Armstrong Cuts 700 Jobs As AI Reshapes Crypto Exchange
Coinbase Global plans to eliminate around 700 positions—about 14% of its global staff—as part of a restructuring aimed at slashing costs and shifting the crypto exchange toward an AI-centric model. According to a regulatory filing, the layoffs are calculated using workforce figures from May 1, with most of the cuts expected to wrap up during the second quarter. The timing is tough. Coinbase remains tied to the ups and downs of crypto trading, and CEO Brian Armstrong acknowledged the firm sits in a down market—despite seeing some lift in newer segments like stablecoins, prediction markets, and tokenized assets.