Coinbase to lay off 14 percent of workforce over AI concerns

Coinbase will cut 14% of its workforce, according to CEO Brian Armstrong.

Armstrong said the decision reflects both a weak crypto market and AI-driven changes that are speeding up engineering work.

Affected employees will receive severance, equity vesting, and health coverage support.

The layoffs highlight how falling crypto prices and rapid AI adoption are pressuring major tech firms to reduce costs.