Coinbase Announces Layoffs Amid Crypto Downturn and AI Transition
Coinbase announced plans to lay off approximately 14% of its global workforce, or around 700 employees, due to a crypto market downturn and the company's shift toward AI-driven operations. The restructuring is expected to cost between $50 million and $60 million in severance-related expenses, with most charges recognized by Q2 2026.
Tickers: $COIN
Topics: AI transformation cryptocurrency layoffs