Coinbase is cutting 14 per cent of its workforce. The reason it gave was not the crypto downturn. It was AI.

The Next Web
By Ana Maria ConstantinMay 5, 2026, 9:45 am22 pts
Coinbase is cutting 14 per cent of its workforce, roughly 660 employees from a company of 4,700, two days before it reports the worst quarterly earnings in its history as a public company. CEO Brian Armstrong announced the layoffs on Tuesday in a letter to staff that mentioned the crypto market downturn in…

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