Strategy And Planning

Crypto exchange Coinbase to cut about 14% of workforce

May 5, 2026
www.ETHRWorld.com
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  • Published On May 5, 2026 at 06:39 PM IST

< />Coinbase said on Tuesday it will cut about 700 jobs, or about 14% of its global workforce, as part of a restructuring plan aimed at reducing costs and repositioning the business for the artificial intelligence era.<br /><br /> The move comes as the crypto ‌exchange navigates ⁠volatility ⁠in crypto markets. Layoffs have been widespread across U.S. companies at the start of the year, as businesses cut expenses, simplify operations and adjust to the growing use of AI tools.<br /><br /><!– PROMOSLOT_M –> Shares of Coinbase were up about 4% in premarket trading.<br /><br /><div class=” article-detail-ad-slot=”” captionrendered=”1″ data-src=”https://etimg.etb2bimg.com/photo/130830035.cms” height=”442″ loading=”eager” src=”https://hr.economictimes.indiatimes.com/images/default.jpg” width=”590″></img></p> </div> <p> The company expects to complete the exercise largely ⁠in the ‌second quarter of 2026.</p> <p> Coinbase said in a blog post it was well-capitalised and positioned for ⁠long-term growth, but added that current market conditions required it to streamline operations so it could emerge leaner and more efficient ahead of the next cycle.</p> <p> CEO Brian Armstrong also cited rapid advances in artificial intelligence, saying new tools were allowing non-technical teams to ship code and automate tasks that previously required ‌larger headcounts.</p> <p> Coinbase expects to incur about $50 million to $60 million in total restructuring expenses, mainly tied to employee severance and other ⁠termination benefits, with most of the charges to be recognized in the second quarter.</p> <p> It also said additional charges could arise from unanticipated events tied to the restructuring.</p> <p> Coinbase has previously undertaken rounds of job cuts during downturns in the crypto market, underscoring the sector’s sensitivity to trading activity and investor sentiment.</p> <p> (Reporting by Prakhar Srivastava and Pragyan Kalita in Bengaluru; Editing by Shailesh Kuber)</p> <div> <div> <ul> <li><a href=Reuters

  • Published On May 5, 2026 at 06:39 PM IST

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