Retour700 people at Coinbase just got fired as CEO blames cost reset on AI and market volatility

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CryptoSlate06/05/2026Crypto

700 people at Coinbase just got fired as CEO blames cost reset on AI and market volatility

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Coinbase will cut about 700 employees, or 14% of its workforce, under a May 5 restructuring plan that the company says will cost $50 million to $60 million. The company framed the move as a response to two forces: crypto-market volatility and a shift in how artificial intelligence is changing the work inside Coinbase. Armstrong […] The post 700 people at Coinbase just got fired as CEO blames cost reset on AI and market volatility appeared first on CryptoSlate.

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