SAN FRANCISCO—Cryptocurrency exchange Coinbase is cutting approximately 14% of its workforce, or roughly 700 employees, as it restructures operations amid a prolonged slowdown in crypto trading activity and a broader push to integrate artificial intelligence deeper into the company’s operations, CoinDesk reported.
CEO Brian Armstrong said the company is reshaping itself around smaller, “AI-native” teams and flattening management layers as automation increasingly handles work once performed by larger staffs. Armstrong said nontechnical employees are now writing production code and many internal workflows are being automated.
The cuts also come as Coinbase faces softer crypto market conditions heading into earnings season. Analysts cited declining bitcoin prices, lower trading volumes and weaker transaction revenue expectations, even as the company continues to emphasize growth in subscription and stablecoin-related revenue streams.
According to reports and regulatory filings, Coinbase expects the restructuring to result in approximately $50 million to $60 million in severance and related costs. The move adds Coinbase to a growing list of technology and crypto firms reducing headcount while repositioning around AI-driven operating models.
Section: Standard
Word Count: 233
Copyright Holder: CUToday.info
Copyright Year: 2026
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