Coinbase Cuts 14% Of Workforce In A ‘Harsh’ Reset Amid AI Shift – CEO Says Firm Built To ‘Weather Any Storm’

Coinbase (COIN) Chief Executive Officer Brian Armstrong announced on Tuesday that the company will cut about 14% of its workforce as it adjusts to market conditions and the rapid rise of artificial intelligence. 

Armstrong said on X to employees that the move comes as crypto markets remain volatile and AI is drastically changing productivity for technical and non-technical teams alike, acknowledging his decision might seem “sudden and harsh.”

Armstrong said the layoffs were part of a broader effort to make Coinbase “emerge from this period leaner, faster, and more efficient for our next phase of growth,” emphasizing flatter organizational structures, fewer management layers, and a greater focus on small, high-impact teams. Acknowledging that the “business is still volatile from quarter to quarter,” he assured the firm is “well-positioned to weather any storm.” 

COIN stock was up over 3% in pre-market trade. On Stocktwits, retail sentiment around COIN remained in the ‘neutral’ zone, while chatter rose to ‘high’ from ‘normal’ levels over the past day. 

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Read also: Coinbase Teams Up With Kemet To Power ‘Everything Exchange’ For Institutional Traders

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