Crypto exchange Coinbase to cut about 14% of workforce in AI-driven restructuring

2026-05-07

Coinbase is cutting roughly 700 jobs, or 14% of its workforce, as the crypto exchange looks to reduce costs during a weaker trading market and reorganize around AI-driven efficiency. CEO Brian Armstrong said AI tools are enabling smaller teams to operate more effectively, highlighting how AI is increasingly reshaping headcount decisions across the tech sector.