Coinbase CEO Brian Armstrong announces the company is cutting ~700 jobs, or ~14% of its global workforce, to reduce costs, saying “AI is changing how we work”

Coinbase (COIN.O) said on Tuesday it will cut about 700 jobs, or about 14% of its global workforce …

Reuters 2026-05-05

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@0xsisyphus @0xsisyphus on x
Coinbase has just fired 700 people, still has 4,000 employees, and generates about as much cash income as Hyperliquid does with 20 employees Lol
@jbulltard1 @jbulltard1 on x
has someone told this guy twitter isn't LinkedIn? https://x.com/...
@stevehou Steve Hou on x
It's coming for all of us, crypto-adjacent first. “AI is changing how we work. Over the past year, I've watched engineers use AI to ship in days what used to take a team weeks. Non-technical teams are now shipping production code and many of our workflows are being automated.”
@lisaabramowicz1 Lisa Abramowicz on x
Coinbase CEO on why he's cutting 14% of his staff: “AI is changing how we work...The pace of what's possible with a small, focused team has changed dramatically...We are adjusting early and deliberately to rebuild Coinbase to be lean, fast, and AI-native.”
@brian_armstrong Brian Armstrong on x
This is an email I sent earlier today to all employees at Coinbase: Team, Today I've made the difficult decision to reduce the size of Coinbase by ~14%. I want to walk you through why we're doing this now, what it means for those affected, and how this positions us for the
@dkthomp Derek Thompson on x
Coinbase is the latest tech company—including Block, and Salesforce—to announce big layoffs and cite AI coding productivity as a driver. I've attached those companies' recent stock performance bc I think it is ... relevant. But a few things can be true at once: 1) AI is v good [i…
@theprimeagen @theprimeagen on x
“Non technical teams shipping production code” - coinbase
@pcaversaccio @pcaversaccio on x
>Non technical teams are now shipping production code looking forward to all the upcoming data leaks that put each Coinbase user at risk. oh and btw Brian, did you coin your amazing content here on Base already??
@evgenygaevoy @evgenygaevoy on x
I bet your head of customer satisfaction doesnt have these cannons [image]
@doodlestein Jeffrey Emanuel on x
See the announcement today from @brian_armstrong at Coinbase in the attached pic. Managing fleets of agents effectively is the most high-impact thing you can do now for your company and for yourself personally. I have the most advanced set of open-source, provider-agnostic [image…
@geoffreyhuntley Geoff on x
“Fewer layers, faster decisions: We are flattening our org structure to 5 layers max below CEO/COO. Layers slow things down and create coordination tax. The future is small, high context teams that can move quickly. Leaders will own much more, with as many as 15+ direct reports. …
Marcus Ribeiro Marcus Ribeiro on linkedin
Coinbase just announced they're cutting 14% of their workforce, around 700 people. CEO Brian Armstrong cited AI directly: smaller teams can now ship work that used to require full headcount. …
r/BetterOffline r on reddit
Coinbase laying off 14% of its staff, CEO blames AI
r/Buttcoin r on reddit
Crypto exchange Coinbase to cut 14% of workforce. Blames “AI-driven restructuring” although that's probably bullshit.
@ashleymayer Ashley Mayer on x
Lots of possible takes on today's Coinbase announcement, but this passage caught my eye. If this becomes a trend, it will be quite disruptive to tech's managerial layer. It was something I was acutely aware of during my comms career: the bigger the title, the more abstracted you …
@luke_metro @luke_metro on x
I do wonder how OpenAI's new comms strategy of “we're building tools to empower people, not replace them” will work when all of their consumers are citing AI as the reason for layoffs
@mikeisaac Rat King on x
re: AI attributed layoffs CEOs are largely herd animals. expect more of these across the valley
@parikpatelcfa @parikpatelcfa on x
Imagine firing 14% of your staff and making the stock price go down not up [image]
r/programare r on reddit
Să vină AI haters cu explicații.
@_nathancalvin Nathan Calvin on x
Chris Lehane, OpenAI Head of Global Affairs, in Jan 2026: “Doomer elites argue that AI will wipe out 20% of jobs” Coinbase (where Chris Lehane is a current board member!) after laying off 14% of their workforce: “Many of our workflows are being automated... we are adjusting [imag…
@jamessurowiecki James Surowiecki on x
The last thing you want to hear the CEO of a financial-services firm say is “Non-technical teams are now shipping production code.” [image]
@sm Sara Mauskopf on x
Non-technical teams are now shipping production code with no oversight from managers who are busy with 15+ direct reports and getting their hands dirty being player-coaches. Sounds like exactly what I want in my financial institution.
@hackinglz Justin Elze on x
“Non-technical teams are now shipping production code” is a wild sentence to read in a memo from a custodian of billions in customer assets. Current tech isn't there yet. Especially not where the threat model includes nation states. https://x.com/...
@danprimack Dan Primack on x
Another big Silicon Valley company cuts jobs, citing AI productivity gains, while the SV investor narrative continues to be about how AI is adding jobs https://www.cnbc.com/...
@nkulw Noah Kulwin on x
my incredibly rough theory of this stuff is that big SV co's (meta, most of all) knowingly keep a higher-than-strictly-necessary headcount because announcing layoffs is one of the few reliable upward pressures on a stock

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Coinbase CEO Brian Armstrong announces the company is cutting ~700 jobs, or ~14% of its global workforce, to reduce costs, saying “AI is changing how we work”

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