Coinbase cuts 14% of staff, citing crypto slump and AI
Coinbase is cutting 14% of its global workforce, or about 700 jobs, citing a crypto market downturn and the rapid advance of artificial intelligence. The company is also restructuring, capping management layers and concentrating hiring around 'AI-native pods'.
Coinbase is cutting 700 jobs, or 14% of its global workforce, due to a crypto market downturn and advancements in artificial intelligence. CEO Brian Armstrong announced the layoffs in a companywide email, stating the need to adjust the cost structure to emerge leaner and more efficient. The company will cap management layers at five below the CEO and COO, and concentrate hiring around 'AI-native pods'. Coinbase's revenue fell 21.6% in the fourth quarter of 2025, and the company posted a net loss of $667 million. Laid-off US employees will receive a minimum of 16 weeks of base pay, plus additional benefits. The company expects total restructuring charges of $50 million to $60 million, mostly in the second quarter of 2026.
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