Coinbase cuts 14% of workforce to reduce costs and expand AI-driven operations

Tue, 05 May 2026 16:26:00 +0200

Coinbase announced plans to lay off approximately 700 employees, representing about 14% of its workforce, as part of a broader restructuring effort aimed at improving efficiency and adapting to ongoing volatility in the cryptocurrency market. According to CEO Brian Armstrong, the company is responding to a prolonged downturn in crypto markets by reducing costs and reshaping its organizational structure to better position itself for future growth.

The restructuring includes flattening the company’s hierarchy to just five layers below the CEO and COO, a move designed to streamline decision-making and increase operational speed. Managers will be expected to take on more individual contributions, and leadership roles may now include overseeing larger teams, with some leaders managing more than 15 direct reports.

A key focus of the transformation is the integration of artificial intelligence into daily workflows. Coinbase plans to build smaller, highly efficient teams that leverage AI too