Coinbase to cut 14% of workforce amid crypto downturn and AI-driven changes

Coinbase CEO Brian Armstrong announced a 14% workforce reduction due to crypto market volatility and rapid AI-driven operational changes. The cuts aim to streamline the company for its next growth phase, focusing on efficiency and AI integration. Despite the downturn, Armstrong remains optimistic about crypto's future, highlighting stablecoins and tokenization as growth drivers. This move aligns with broader tech layoffs linked to AI advancements and comes ahead of Coinbase's Q1 earnings report.