Crypto exchange Coinbase to lay off 14% of staff as AI reshapes work
Key takeaways
- Cryptocurrency exchange Coinbase said it’s slashing roughly 14% of its workforce or about 700 workers, partly because artificial intelligence is reshaping the way people work.
- We are adjusting early and deliberately to rebuild Coinbase to be lean, fast, and AI-native,” Coinbase Chief Executive and co-founder Brian Armstrong said in a Tuesday email to employees.
- The email, which was posted on social media, said engineers with the help of AI are completing work in days rather than weeks.
Brian Armstrong, Co-founder and chief executive of Coinbase, participates in the State of Crypto Summit, in New York, June 12, 2025. (AP Photo/Richard Drew, File) By Queenie Wong Staff Writer Follow May 5, 2026 3:02 PM PT 3 min Click here to listen to this article Share via Close extra sharing options Email Facebook X Linked In Threads Reddit Whats App Copy Link URL Copied! Print 0:00 0:00 1x This is read by an automated voice. Please report any issues or inconsistencies here.
Cryptocurrency exchange Coinbase said it’s slashing roughly 14% of its workforce or about 700 workers, partly because artificial intelligence is reshaping the way people work.
“The biggest risk now is not taking action. We are adjusting early and deliberately to rebuild Coinbase to be lean, fast, and AI-native,” Coinbase Chief Executive and co-founder Brian Armstrong said in a Tuesday email to employees.