"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.

As crypto company Coinbase is laying off 14% of its staff, the CEO says that they're "fundamentally changing how we operate, rebuilding the company as an intelligence, with humans around the edge aligning it.

Coinbase (COIN) is cutting about 700 workers, equal to roughly 14% of its global staff, as CEO Brian Armstrong rebuilds the crypto exchange around AI, lower costs, and smaller teams. The company expects most job cuts to be completed in the second quarter of 2026.

OCTOBER 23: Brian Armstrong, cofounder and CEO of Coinbase speaks onstage during 'Tales from the Crypto: What the Currency of the Future Means for You' at Vanity Fair's 6th Annual New Establishment Summit at Wallis Annenberg Center for the Performing Arts ...

Shares of crypto exchange Coinbase Global were up 3.4% in premarket trading after the company announced it would lay off approximately 14% of its staff. Chief executive Brian Armstrong said that the move comes as Coinbase aims to use artificial intelligence to become a leaner and faster company.

Coinbase’s latest market report sees Bitcoin as materially undervalued while noting Ethereum’s shift into a ‘hope’ phase, even as macroeconomic risks temper near-term optimism. Institutional adoption is expanding beyond spot holdings into ...

Coinbase, the largest US crypto exchange, said Tuesday that it planned to lay off about 14 percent of its workers amid volatility in the cryptocurrency market and as artificial intelligence changes how people work.