Crypto exchange Coinbase to lay off 14% of staff
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"Over the past year, I've watched engineers use AI to ship in days what used to take a team weeks," Coinbase CEO Brian Armstrong wrote.
He said the company will reduce management layers and downsize teams to just one person in its push for an 'AI-native' workforce.
The lawsuit against Coinbase appears to be filed by the victim of a $55 million stablecoin phishing attack pulled off in 2024.
Coinbase will cut roughly 14% of its workforce, citing a combination of market volatility and the how AI is quickly changing how the company operates.
Crypto-linked equities are extending Monday’s rally into Tuesday morning. Shares of Circle Internet Group (NYSE:CRCL | CRCL Price Prediction), Coinbase Global (NASDAQ:COIN), and Strategy (NASDAQ:MSTR) all gained 3% in the premarket hours.
May 1 (Reuters) - Coinbase said on Friday a deal has been reached on a key provision in a landmark crypto legislation that could clear the path for the bill to move forward in the U.S. Senate. • The b
Coinbase is laying off 14% of its workforce and rebuilding operations around AI-native workflows, flatter structures, and smaller, faster teams.
The market is starting to price in potential winners as stablecoin yield compromise opens path for passing key U.S. digital asset regulation, one analyst said.