Coinbase is cutting around 14 percent of its workforce as the cryptocurrency exchange shifts toward a more AI-driven operating model, according to CEO Brian Armstrong.
In a message to employees, Armstrong said advances in artificial intelligence have allowed smaller teams to complete work that previously required much larger departments. Roughly 700 employees are expected to be affected by the layoffs.
The company said it plans to flatten management structures and increasingly rely on what Armstrong described as “leaner” and more efficient teams. Coinbase joins a growing list of technology companies restructuring operations around AI tools and automation amid broader concerns over the future of white-collar jobs. Despite the cuts, Coinbase said it remains committed to expanding its products and investing in long-term growth across the cryptocurrency sector.
