Coinbase Cuts 14% of Staff, Citing Down Market and AI Productivity Gains

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Coinbase is cutting about 14% of its workforce, or 660 employees, as Brian Armstrong cited weak market conditions and AI-driven efficiency gains. Armstrong said AI now lets engineers ship work in days instead of weeks. U.S. employees affected will receive at least 16 weeks of base pay plus two weeks of severance for each year of service.

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