Coinbase cuts 14% of staff — Armstrong links reset to AI efficiency and market volatility.

Coinbase laid off approximately 950 employees, representing 14% of its workforce, with CEO Brian Armstrong framing the cuts as a move toward operational efficiency ahead of prolonged market uncertainty. Armstrong cited both the bear market environment and a broader shift toward AI-driven workflows as drivers behind the restructuring.

Coinbase shares rose nearly 3% in premarket trading following the announcement — a typical market reaction when cost-cutting signals improved margins. The move reflects a pattern seen across crypto firms navigating the extended downturn: leaner headcount, tighter spend, and a bet that automation absorbs some of the slack.