Coinbase to Lay Off 700 Workers Amid Shift to Artificial Intelligence

Coinbase, a prominent cryptocurrency company, has announced plans to reduce its workforce by approximately 14% as part of its efforts to focus on artificial intelligence (AI). The layoffs are expected to affect around 700 employees and will be completed before the end of the second quarter of 2026.

The company's CEO, Brian Armstrong, stated that the decision was made due to the 'volatile' nature of the cryptocurrency market, which has been experiencing fluctuations from quarter to quarter. To address this, Coinbase plans to reduce management layers and concentrate on hiring AI-native talent.

'The biggest risk now is not taking action,' Armstrong wrote in a post on X. 'We are adjusting early and deliberately to rebuild Coinbase to be lean, fast, and AI-native.'