"Coinbase is cutting 14 percent of its workforce, roughly 660 employees from a company of 4,700, two days before it reports the worst quarterly earnings in its history as a public company."
"The restructuring eliminates pure management roles, caps the organization at five layers below the CEO and COO, and introduces what the company calls AI-native pods: small teams that use AI tools to do what used to require a department."
"Wall Street expects Coinbase to report revenue of roughly 1.5 billion dollars for the first quarter of 2026, a 26 percent decline from the same period last year."
"Consumer transaction revenue fell 45 percent year on year to 734 million dollars as cryptocurrency prices collapsed and traders migrated to lower-fee tiers."
Coinbase is reducing its workforce by 14%, approximately 660 employees, just before reporting a historic quarterly revenue drop of 26%. CEO Brian Armstrong emphasized a shift towards AI-native 'pods' for operational efficiency. The restructuring eliminates management roles and limits organizational layers. Despite the layoffs coinciding with a market downturn, Armstrong frames this as a necessary transformation. The company anticipates a revenue of about 1.5 billion dollars for Q1 2026, with significant declines in consumer transaction revenue and overall cryptocurrency trading volumes.
Read at TNW | Cryptocurrency
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