Coinbase cuts about 14% of workforce as it becomes AI-native

Coinbase announced cuts of about 14% of its workforce, roughly 680 roles, as the Nasdaq-listed exchange restructures during a market downturn and shifts to AI-native operations. Brian Armstrong confirmed the reductions in a post on X. The company’s investor relations page showed about 4,900 employees at the end of 2025, which implies the layoffs will affect about 680 people.

The company reported a net loss of $667 million in the fourth quarter of 2025 after posting a profit in the prior quarter. Full-year net income for 2025 was $1.26 billion, down 51% from 2024. Coinbase is scheduled to release first-quarter results on May 7.

Armstrong wrote that he is “rebuilding Coinbase as an intelligence, with humans around the edge aligning it.” He outlined plans for a flatter organizational structure with “no pure managers” and said the company will prioritize hires who can manage fleets of AI agents. Armstrong noted engineers are using AI to finish work in days that used to take teams weeks, non-technical staff are shipping production code, and many workflows are being automated.

The announcement follows a series of staff reductions across the crypto industry. Crypto.com cut about 12% of its workforce in March, Gemini planned to eliminate up to 200 roles in February, and Block reduced its staff by roughly 40% in February.

Coinbase shares rose in early trading after the company disclosed the job cuts and its AI-focused restructuring.