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Coinbase laying off hundreds of employees, citing AI advancements

Coinbase CEO Brian Armstrong announced Tuesday that the cryptocurrency exchange is laying off hundreds of employees, pointing to the market’s current downswing and recent AI advancements. The company plans to reduce its workforce by about 14 percent, Armstrong said in an email to

First seen · 2:53 PM UTCMay 5, 2026

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Coinbase laying off hundreds of employees, citing AI advancementsCoinbase CEO Brian Armstrong announced Tuesday that the cryptocurrency exchange is laying off hundreds of employees, pointing to the market’s current downswing and recent AI advancements. The company plans to reduce its workforce by about 14 percent, Armstrong said in an email to
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