Coinbase CEO Brian Armstrong emphasized that the layoffs are part of a broader transition into the era of artificial intelligence|TechCrunch|CC BY 2.0

Coinbase joins a growing list of companies slashing headcount, citing AI efficiency gains. It is cutting 14% of its workforce, which is roughly 700 employees.

CEO Brian Armstrong emphasized that the layoffs are part of a broader transition into the era of artificial intelligence. By leveraging AI-driven workflows, Coinbase aims to empower smaller, non-technical teams to automate tasks more efficiently.

The move also comes as the crypto firm faces declining trading revenue amid a downturn in cryptocurrency prices.

Coinbase’s layoffs mirror a broader tech industry trend
Block laid off 40% of its staff in February, Meta Platforms cut 10% (approximately 8,000 workers) in April, and Amazon shed 16,000 corporate roles in January.

Data from the Bureau of Labor Statistics reveal 178,000 layoffs reported in the information sector through March 2026 alone.

Prediction markets traders are betting on higher tech layoffs in 2026, with odds at about 92% on Kalshi and 87% on Polymarket.

The information sector shed 447,000 jobs last year.