Coinbase

Coinbase laid off 700 employees representing approximately 14% of its workforce on 2026-05-05. The company is at the Post-IPO funding stage and operates in the Crypto sector.

Coinbase, a major cryptocurrency exchange, is laying off approximately 950 employees, which represents about 20% of its workforce. This follows a previous 18% reduction in June 2022. The company, which had around 4,700 employees as of September, is implementing these cuts to preserve cash amid a severe crypto market downturn exacerbated by the collapse of FTX and broader industry contagion. CEO Brian Armstrong cited the need to reduce expenses and discontinue lower-probability projects to ensure the company's resilience. The layoffs, announced in January 2023, are part of a restructuring effort expected to lower operating expenses by 25% in the first quarter.

Coinbase laid off 60 employees on 2022-11-10.

Cryptocurrency exchange Coinbase is laying off approximately 1,100 employees, which represents 18% of its full-time workforce of about 5,000. Announced via an employee email in June 2022, the drastic cuts are attributed to preparing for a potential recession and a looming "crypto winter," which could severely reduce trading activity. CEO Brian Armstrong stated the company grew too rapidly during the bull market, leading to unsustainable costs, and emphasized the need to manage its burn rate. This move follows a hiring pause and a significant decline in the company's stock price, reflecting broader turmoil in the crypto industry.