700 Jobs Gone: Coinbase’s Brutal Cuts Signal Something Is Wrong With The Crypto Market

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Coinbase CEO Brian Armstrong announced on Tuesday,

700 Jobs Gone: Coinbase’s Brutal Cuts Signal Something Is Wrong With The Crypto Market

700 Jobs Gone: Coinbase’s Brutal Cuts Signal Something Is Wrong With The Crypto Market

Coinbase CEO Brian Armstrong announced on Tuesday, May 5, that the company will reduce its workforce by approximately 14% — a move Armstrong described as “sudden and harsh” but necessary to position the exchange for what he called a new phase of AI-driven operations.

BTC's price trends to the upside on the daily chart. Source: BTCUSD on Tradingview

Cover image from Grok, BTCUSD chart on Tradingview

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