Coinbase Reduces Workforce by 14% as CEO Cites Crypto Market Conditions and AI Adoption Coinbase Global Inc. announced on Tuesday, May 5, a 14% reduction in its workforce, affecting approximately 700 employees, as part of a restructuring to reposition the cryptocurrency exchange amid a down market and accelerating adoption of artificial intelligence (AI). CEO Brian Armstrong communicated the decision in an internal email that was also posted to X, stating that “two forces are converging at the same time” – a crypto bear market and AI-driven changes to work. According to the company’s last annual report, Coinbase had 4,951 employees. The…
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