Crypto exchange Coinbase to cut about 14% of workforce
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Coinbase Lay's off hundreds of employees
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He said the company will reduce management layers and downsize teams to just one person in its push for an 'AI-native' workforce.
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.
Traders on prediction market platforms give a high probability to layoffs in the tech sector reaching more than 447,000 jobs in 2026.
Coinbase has maintained a neutral outlook for the crypto market in Q2, citing persistent macroeconomic uncertainty while pointing to early signs of stabilization across major digital assets. Macro Forces Dominate Near-Term Outlook In its latest Charting Crypto report,
Coinbase and Robinhood are taking different approaches as they contend with ongoing crypto market weakness. Coinbase is cutting 14% of its workforce and reorganizing to embed AI tools for efficiency ahead of its Q1 earnings, while Robinhood is addressing a ...