Coinbase Lays Off 700 Employees Amid AI Transition
Cryptocurrency exchange Coinbase has laid off approximately 700 employees (14% of its workforce) as it shifts toward integrating artificial intelligence into operations. CEO Brian Armstrong cited the need to become leaner and more efficient amid a down market for crypto, aligning with broader industry trends seen at companies like Block and Crypto.com.
Tickers: $COIN
Topics: AI adoption crypto market downturn layoffs