Coinbase to cut 14% of staff in AI-driven restructuring
Coinbase is cutting 700 jobs to reduce costs amid market volatility. The restructuring aims to leverage AI tools to improve efficiency across the company.
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COINBASE GLOBAL INC -CLASS A will cut 700 jobs, representing 14% of its workforce, to reduce costs and integrate artificial intelligence. The restructuring follows a slowdown in digital asset trading volumes after the market peaked in October. The cost cuts and AI focus reflect efforts to sustain profitability as the exchange navigates volatile trading conditions and investor sentiment.
