Coinbase is laying off about 700 employees, or 14 percent of its workforce, as it adjusts to crypto market cycles and rising AI-driven productivity. CEO Brian Armstrong said engineers can now build products much faster using AI tools, reducing the need for large teams. The company is shifting to a leaner, AI-native structure with fewer management layers and smaller teams. Affected employees will receive severance packages, while Coinbase aims to emerge stronger from ongoing market changes and industry transformation.
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