Coinbase cuts about 700 jobs to focus on AI
Business
Coinbase is letting go of about 700 employees, roughly 14% of its global team, as part of a major restructuring.
The company says these layoffs will help trim expenses and shift focus toward emerging tech like artificial intelligence.
Coinbase layoffs cost $50 million to $60 million
This round of layoffs will cost Coinbase an estimated $50 million to $60 million, mostly for severance packages, with most cuts wrapping up largely in the second quarter of 2026.
Investors seem to approve: Coinbase shares jumped nearly 5% after the news, signaling confidence in the company's new direction.