Coinbase said on Tuesday it will cut about 700 jobs, or about 14 per cent of its global workforce, as part of a restructuring plan aimed at reducing costs and repositioning the business for the artificial intelligence era.
The move comes as the crypto exchange navigates volatility in crypto markets. Layoffs have been widespread across U.S. companies at the start of the year, as businesses cut expenses, simplify operations and adjust to the growing use of AI tools.
Shares of Coinbase were up about 4 per cent in premarket trading.
The company expects to complete the exercise largely in the second quarter of 2026.
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