{"id":28682,"date":"2026-05-05T22:32:08","date_gmt":"2026-05-05T22:32:08","guid":{"rendered":"https:\/\/www.europesays.com\/ai\/28682\/"},"modified":"2026-05-05T22:32:08","modified_gmt":"2026-05-05T22:32:08","slug":"crypto-exchange-coinbase-to-lay-off-14-of-staff-as-ai-reshapes-work","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/ai\/28682\/","title":{"rendered":"Crypto exchange Coinbase to lay off 14% of staff as AI reshapes work"},"content":{"rendered":"\n

Cryptocurrency exchange Coinbase said it\u2019s slashing roughly 14% of its workforce or about 700 workers, partly because artificial intelligence is reshaping the way people work.<\/p>\n

\u201cThe biggest risk now is not taking action. We are adjusting early and deliberately to rebuild Coinbase to be lean, fast, and AI-native,\u201d Coinbase Chief Executive and co-founder Brian Armstrong said in a Tuesday email to employees.<\/p>\n

The email<\/a>, which was posted on social media, said engineers with the help of AI are completing work in days rather than weeks. As more tasks get automated, that\u2019s made it possible for the company to lean on smaller teams.<\/p>\n

The company also cited other factors contributing to the job losses, including the volatility of the cryptocurrency business. <\/p>\n

Founded in San Francisco, Coinbase is the largest cryptocurrency exchange in the United States. Millions of people use its platform to buy, sell, transfer and store cryptocurrency such as Bitcoin.<\/p>\n

Coinbase is among tech companies that have been laying off workers and pointing to how AI is making workers more productive. While some experts say the role AI has been playing is overblown, advancements in technology have also made it possible to generate code and automate other tasks. Companies are also spending more on artificial intelligence, some building new AI-powered gadgets or building out new data centers.<\/p>\n

This year, companies such as Block, Meta, Oracle and more have announced they\u2019re slashing thousands of workers<\/a>. From January to March, tech companies have announced 52,050 layoffs, up 40% from the same period last year, according to outplacement and executive coaching firm Challenger, Gray & Christmas. <\/p>\n

Coinbase is also changing how it operates, Armstrong told employees. It\u2019s reducing management layers and some leaders will oversee 15 workers or more, his email said. Managers will operate like \u201cplayer-coaches\u201d and it\u2019s experimenting with \u201cone person teams\u201d in which the role of an engineer, designer and product manager are part of one position.<\/p>\n

\u201cAI is bringing a profound shift in how companies operate, and we\u2019re reshaping Coinbase to lead in this new era,\u201d Armstrong told employees. \u201cThis is a new way of working, and we need to leverage AI across every facet of our jobs.\u201d<\/p>\n

Coinbase largely makes money from cryptocurrency transaction fees but trading activity has slowed. In the fourth quarter of 2025, the company reported total revenue of roughly $1.8 billion, missing analyst\u2019s expectations. The company posted a net loss of $667 million during that quarter, which it partly attributed to losses in certain strategic investments.<\/p>\n

As of December, Coinbase had more than 4,900 employees, according to its website. While the company leased office space in San Francisco, it has allowed employees to work remotely and doesn\u2019t have a physical headquarters.<\/p>\n

Coinbase\u2019s share price closed down more than 2 % on Tuesday to $197.75.<\/p>\n","protected":false},"excerpt":{"rendered":"Cryptocurrency exchange Coinbase said it\u2019s slashing roughly 14% of its workforce or about 700 workers, partly because artificial…\n","protected":false},"author":2,"featured_media":28683,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[24,18850,25,568,532,18848,2515,8504,3800,18849,969,18847,18851,809,18846],"class_list":{"0":"post-28682","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-ai","8":"tag-ai","9":"tag-armstrong","10":"tag-artificial-intelligence","11":"tag-coinbase","12":"tag-company","13":"tag-crypto-exchange-coinbase","14":"tag-employee","15":"tag-engineer","16":"tag-job-loss","17":"tag-manager","18":"tag-san-francisco","19":"tag-tuesday-email","20":"tag-way-people","21":"tag-work","22":"tag-worker"},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/posts\/28682","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/comments?post=28682"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/posts\/28682\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/media\/28683"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/media?parent=28682"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/categories?post=28682"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/tags?post=28682"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}