Read the email Coinbase CEO Brian Armstrong sent when he laid off 14% of his staff

Coinbase is cutting around 700 roles—or 14% of its workforce—because of AI, according to CEO Brian Armstrong. On Tuesday, Armstrong made a post on X including the full email he sent to employees regarding the layoffs. “We’re currently in a down market and need to adjust our cost structure now so that we emerge from this period leaner, faster, and more efficient for our next phase of growth,” Armstrong wrote. Not only will Coinbase cut costs and reduce headcount,  but also “fundamen...