Coinbase to lay off 14% of staff as part of broader restructuring

Coinbase will cut about 700 jobs, or 14% of its workforce, as it restructures to lower costs.

The company plans to flatten management and rely more on smaller, AI-assisted teams to improve efficiency.

Leadership said the changes are meant to help Coinbase weather volatile crypto markets and reduce overhead.

Severance and related restructuring costs are estimated at $50 million to $60 million.