Coinbase to lay off 700 workers as crypto company embraces AI
Coinbase is laying off 700 workers, or 14% of its workforce, as it turns to artificial intelligence to reduce costs and boost productivity. The company plans to shift some jobs to managing AI agents and experiment with 'one-person teams' that combine multiple duties.
Coinbase announced it is cutting 700 jobs as the cryptocurrency trading company turns to artificial intelligence to reduce costs and boost productivity. Coinbase co-founder and CEO Brian Armstrong said the crypto exchange is streamlining its operations amid continued market volatility. The company plans to shift some jobs to managing fleets of AI agents and experiment with 'one-person teams' that combine the duties of engineers, designers, and product managers. As of the end of 2025, Coinbase had nearly 5,000 employees. The company expects to complete the layoffs by the second quarter of 2026 and estimates it will incur $50 million to $60 million in restructuring costs. Coinbase is the latest in a wave of companies to announce AI-related job cuts, following companies like Block, Chegg, CrowdStrike, and Pinterest.
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