Ripple CEO Says AI-Led Job Cuts Are A ‘Travesty’ – Confirms No Layoffs At Company Amid Coinbase Headcount Reduction

• Ripple CEO Brad Garlinghouse said that AI is a growth tool that is already integrated across engineering, finance, and marketing functions at the company.
• He stated that around 75% of Ripple’s code is now written or assisted by AI tools.
• Garlinghouse said crypto firms should prioritize expansion, calling AI an “accelerant” for the industry.

Ripple (XRP) CEO Brad Garlinghouse said Tuesday he does not plan to cut jobs at his organization due to artificial intelligence, pushing back on a growing narrative across the tech sector.

“Painting AI as the boogeyman is a travesty,” Garlinghouse said in an interview with CoinDesk at Consensus Miami 2026. “We’re not thinking about AI as a tool to reduce headcount. We’re thinking about it as an unlock.”

The Ripple CEO said AI is already embedded across multiple functions at the company, including engineering, finance, and marketing. He noted that roughly 75% of Ripple’s code is now written or assisted by AI tools. The technology is also being used to automate internal processes and improve decision-making around product strategy.

“The addressable market is so big,” he said. “We’re thinking about how to go after more products and more customers faster.” Rather than replacing employees, Garlinghouse said AI allows teams to focus on higher-value work. He compared the shift to earlier technological changes, such as the introduction of automated teller machines, which were initially expected to reduce bank jobs but ultimately expanded the role of bank employees.

Coinbase Lays Off 14% Of Its Workforce

His comments come after Coinbase (COIN) CEO Brian Armstrong said the company will cut roughly 14% of its workforce, or about 700 employees, citing a combination of market volatility and AI quickly changing how the company operates. 

COIN’s stock fell over 3.5% in midday trade and was among the top trending tickers on Stocktwits at the time of writing. Retail sentiment around the cryptocurrency exchange continued to trend in ‘bullish’ territory over the past day, accompanied by chatter at ‘high’ levels. 

Coinbase’s move comes amid a broader wave of tech industry layoffs tied to a ramp in AI investment, including those at Block (XYZ), Pinterest (PINS), CrowdStrike (CRWD), and Chegg (CHGG). Klarna (KLAR) froze hiring in 2025, citing AI productivity gains, claiming its AI assistant was doing the work of 700 customer service agents. Atlassian (TEAM) cut 1,600 jobs in March 2026 and replaced its CTO, framing the reduction as an adaptation to the AI era. 

AI Is An 'Accelerant' For The Crypto Industry

Garlinghouse said the crypto sector, still in a growth phase, should prioritize expansion over efficiency-driven layoffs. According to him, companies attributing job cuts to AI may be oversimplifying broader business decisions. “AI is an unlock for a growth industry like digital assets,” he said. “It’s an accelerant.”

He added that Ripple processed around $13 trillion in payments last year, but the compay doesn't not have any immediate plans for an initial public offering (IPO).

XRP’s price edged 0.42% higher in the last 24 hours, lagging other crypto majors after Bitcoin (BTC) rose to cross $81,500 on Tuesday for the first time since January. Retail sentiment on Stocktwits around XRP remained in ‘bearish’ territory over the past day, accompanied by ‘low’ levels of chatter.  

Read also: Arthur Hayes Slams CLARITY Push – Crypto 'Doesn't Need' Regulation, Only Benefits Centralized Companies

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