Coinbase Global, Inc. (COIN) to Cut 14% of Workforce

Coinbase Global, Inc. (NASDAQ:COIN) is one of the 10 Best ARK Stocks to Buy Right Now.

On May 5, Bloomberg reported that Coinbase Global, Inc. (NASDAQ:COIN) will cut about 14% of its workforce as it moves to manage costs and adapt to AI-driven changes. Roughly 700 roles will go, with most reductions landing in the second quarter and restructuring charges reaching up to $60 million.

CEO Brian Armstrong framed the shift bluntly, writing on X that “two forces are converging at the same time,” noting volatile markets and AI, while adding the company must respond “front-footed.” Then followed the structural reset with fewer management layers, smaller teams, and even single-person units that combined engineering, design, and product functions.

Bloomberg said Coinbase Global, Inc. (NASDAQ:COIN) previously reported revenue tumbling 20% in Q4 while posting a $667 million net loss, as falling token prices drained trading activity.

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Mizuho analyst Dan Dolev said “the crypto winter is probably the real reason,” calling AI “an easy excuse,” Bloomberg reported.

Coinbase Global, Inc. (NASDAQ:COIN) provides a trusted platform that serves as a compliant on-ramp to the on-chain economy, allowing users to engage in a wide range of activities with their crypto assets through proprietary and third-party product experiences that are enabled by access to decentralized applications.

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