Coinbase will cut roughly 14% of its workforce, citing a combination of market volatility and the how AI is quickly changing how the company operates.

Several companies have announced workforce shakeups as more firms rely on AI.

Coinbase is set to report earnings on May 7.

We are not just reducing headcount and cutting costs, we’re fundamentally changing how we operate,” CEO Brian Armstrong said.

OCTOBER 23: Brian Armstrong, cofounder and CEO of Coinbase speaks onstage during 'Tales from the Crypto: What the Currency of the Future Means for You' at Vanity Fair's 6th Annual New Establishment Summit at Wallis Annenberg Center for the Performing Arts ...

Coinbase CEO Brian Armstrong announced Tuesday that the company would cut roughly 14% of its global workforce, or approximately 700 employees, citing two forces arriving simultaneously: a downturn in the crypto market and artificial intelligence fundamentally changing how the company operates.

Coinbase’s latest market report sees Bitcoin as materially undervalued while noting Ethereum’s shift into a ‘hope’ phase, even as macroeconomic risks temper near-term optimism. Institutional adoption is expanding beyond spot holdings into ...

Coinbase unveiled a new feature that lets customers borrow up to $1 million in cash from their Bitcoin wallet yesterday. See: Coinbase Expands Banking Services by Letting Users Deposit Paychecks Into Their Accounts Find: Coinbase Fees: Here’s a Full ...

Coinbase (NASDAQ: COIN) and PayPal (NASDAQ: PYPL) have teamed up to make the payment giant's stablecoin, PayPal USD (CRYPTO: PYUSD), easier to buy and use. Coinbase is one of the leading U.S. crypto exchanges, and PayPal is a major player in e-commerce and ...

Shares of crypto exchange Coinbase Global were up 3.4% in premarket trading after the company announced it would lay off approximately 14% of its staff. Chief executive Brian Armstrong said that the move comes as Coinbase aims to use artificial intelligence to become a leaner and faster company.