Discussion

• @coinbase @coinbase on x

  Coinbase CEO @brian_armstrong announced today the difficult decision to reduce the size of the Coinbase team by 18%. More details and rationale in Brian's email to employees, which has been made public for all to see ➡️ https://blog.coinbase.com/...

• @bryan_vehonsky Bryan on x

  Thinking back to prior writing from @ahcastor, $COIN now laying off 1,100 employees per 8-K filed this morning. How did this company have 5,000 employees and what on earth were they all actually doing? https://twitter.com/...

• @laurashin Laura Shin on x

  Coinbase to lay off 18% of workers “If you are affected, you will receive this notification in your personal email, because we made the decision to cut access to Coinbase systems for affected employees.” — ⁦@brian_armstrong⁩ https://blog.coinbase.com/...

• @brian_armstrong Brian Armstrong on x

  2/ We also grew quite quickly over the past two years and have begun to operate less efficiently at our new size. It will take us some time to adjust to this new scale before growing again.

• @lawmaster @lawmaster on x

  Rumors about 3AC margin called, Celsius illiquid and done, Terra blew up, a lot of funds lost like 90% of their capital, Coinbase firing 20% of all employees. How much worse can things really get anon? This is oof city

• @lawblob @lawblob on x

  This company spent $7M on a Superbowl commercial just a few months ago https://twitter.com/...

• @ivanthek @ivanthek on x

  My 2 satoshis on this: They must have very poor internal security if they were compelled to do a RIF this way. https://twitter.com/...

• @gergelyorosz Gergely Orosz on x

  Coinbase announced laying off 18% of their staff today. I was suspecting layoffs coming next as soon as they rescinded all offers 2 weeks ago, unless the crypto market would have turned miraculously in reverse. Which it did not. Expect all crypto companies to feel similar pain. h…

• @gergelyorosz Gergely Orosz on x

  Just in: Coinbase executed these layoffs by locking out laid off people out of their laptops this morning. They texted colleagues. Coinbase's internal #ask-it Slack was exploding with these questions. Ppl laid off learned about the layoff from colleagues w access to systems. http…

• @lay2000lbs Leighton on x

  Coinbase failing is one of the only things that could make me bearish on crypto. A visionary company and crucial bridge to the decentralized internet. Sad to hear about layoffs and looking forward to brighter days. https://twitter.com/...

• @spencernoon @spencernoon on x

  Sad day for our industry. My DMs are open for any affected Coinbase employees looking for work. There are so many projects in this space that would be thrilled to have you, especially in the @variantfund portfolio 💪🏼 https://twitter.com/...

• @wublockchain Wu Blockchain on x

  Coinbase CEO Brian Armstron said it will cut the size of the team by about 18% to ensure it remains healthy during this recession. But the coinbase executives just gave themselves a huge bonus and sold the stock. https://blog.coinbase.com/...

• @brian_armstrong Brian Armstrong on x

  1/ Today I shared that I've made the difficult decision to reduce the size of our team at Coinbase by about 18%. The broader market downturn means that we need to be more mindful of costs as we head into a potential recession.

• @anthony Anthony DeRosa on x

  Four top Coinbase officials have collectively pocketed more than $1 billion by selling shares since the cryptocurrency exchange's public listing last spring, a period in which the company's shares have declined some 80% $COIN https://www.wsj.com/...

• @adamsinger Adam Singer on x

  Watch what they do, not what they say https://twitter.com/...

• @seyitaylor @seyitaylor on x

  coinbase employees praying for a boring week... https://twitter.com/...

• @gaborgurbacs Gabor Gurbacs on x

  Coinbase is letting 1,100 employees go, which is 18% of their workforce. This means that Coinbase has/had more than 5,000 employees. Some very profitable exchanges and trading shops run their business with less than 1% of a 5,000 employee base. There are different approaches.

• @seyitaylor @seyitaylor on x

  the fact that there's a coinbase story every week now... https://blog.coinbase.com/...

• @adamscochran Adam Cochran on x

  The Coinbase layoffs are sudden and brutal. They are necessary because of the terrible management decision to over expand, but that doesn't make this move any less painful. If you've been impacted by layoffs, my DMs are open - will try and connect you with those hiring.

• @ahcastor Amy Castor on x

  And the big news of the day — Coinbase is laying off 1,100 employees, according to a new filing. That's 18% of its workforce. It hired 30% of its current staff in Q1, thinking the party was going to go on forever https://twitter.com/...

• @loudmouthjulia @loudmouthjulia on x

  Layoffs are never, never easy, but this feels like an absolutely terrible way to go about it. God. Layoff days are always insanely confusing, chaotic, and emotional. Being cut off without any real notification and being sent a personal email would be extra devastating (for me) ht…

• @loudmouthjulia @loudmouthjulia on x

  First offers rescinded, now 18% of workforce laid off. Hope pals at Coinbase are okay. Terrifying. https://twitter.com/...

• @conorsen Conor Sen on x

  https://twitter.com/...

• @damedoteth @damedoteth on x

  Coinb*se has been through FOUR crypto winter periods in its history — the fact that they're having to lay off 18% of their staff is a massive failure on Brian Armstrong's part... he knew extremely well what winters are like and still failed to be ready https://blog.coinbase.com/.…

• @josephmdurso Joey D'Urso on x

  Exclusive cryptocurrency partner of the NBA. https://twitter.com/...

• @carterthomas Carter Thomas on x

  friendly reminder that Brian Armstrong bought a $133M house a few months ago if you're not building your own future, you are building someone else's https://www.dirt.com/... https://twitter.com/...

• @arjunkharpal Arjun Kharpal on x

  BREAKING: Coinbase to cut workforce by 18% citing the “economic downturn.” “A recession could lead to another crypto winter, and could last for an extended period.” https://twitter.com/...

• @kpriime @kpriime on x

  cons of being a public company https://twitter.com/...

• @loopifyyy @loopifyyy on x

  Coinbase reducing the size of their team by 18% while FTX & Binance hiring thousands. Interesting.

• @mylesudland Myles Udland on x

  oh man “If you are affected, you will receive this notification in your personal email, because we made the decision to cut access to Coinbase systems for affected employees.” https://blog.coinbase.com/...

• @thestalwart Joe Weisenthal on x

  “Today I am making the difficult decision to reduce the size of our team by about 18%, to ensure we stay healthy during this economic downturn. ” — @brian_armstrong https://blog.coinbase.com/...

• @catherineflick Dr Catherine Flick on x

  RIP https://twitter.com/...

• @sarthakgh @sarthakgh on x

  Coinbase lays off 1000 people Brutal https://twitter.com/...

• @bennetttomlin Bennett Tomlin on x

  Well that's something interesting https://twitter.com/...