Coinbase Lays Off Staff Amid Industry Shifts

Coinbase, a major cryptocurrency exchange, has announced that it will be laying off approximately 14% of its staff, according to CEO Brian Armstrong. This decision comes as part of an effort to streamline operations and improve efficiency.

Meanwhile, the Shibarium layer 2 blockchain, developed by Shiba Inu, has seen a relatively quiet period in terms of transaction activity. The network processed approximately 1,002 transactions over the past 24 hours, generating only $0.0017 in fees. This is in stark contrast to previous periods, when Shibarium saw significantly higher levels of activity.

The low transaction counts and minimal fees suggest that users are not yet taking full advantage of Shibarium's capabilities. However, it's worth noting that the network is still relatively new, and its infrastructure is likely to improve over time.