Coinbase is laying off 14% of staff, citing AI. Read the letter from its CEO.

In a Tuesday X post, CEO Brian Armstrong said the cuts were to "be leaner, faster, and more efficient for our next phase of growth."
The Next Web

Coinbase is cutting 14 per cent of its workforce. The reason it gave was not the crypto downturn. It was AI.

Coinbase is laying off 660 employees and restructuring into AI-native pods with a five-layer management cap. Q1 revenue is expected to fall 26% as crypto volumes drop 48%.

Managers, get your hands dirty or get fired: Lessons from AI-powered tech layoffs at Coinbase, Block, Snap

As layoffs become the law of the land, and artificial intelligence (AI) drives productivity, it is managers that are becoming redundant.

Coinbase will lay off 14% of its staff as AI spurs a new way of working

Coinbase will pivot to more “one-person teams,” meaning that employees will be asked to act as engineers, designers and product managers all in one — with the help of AI.

Tiny teams, no 'pure managers,' and AI: Coinbase's memo has all the classic ingredients of a 2026 layoff letter

"Over the past year, I've watched engineers use AI to ship in days what used to take a team weeks," Coinbase CEO Brian Armstrong wrote.