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Coinbase shares jump after CEO announces 14% workforce cut

Coinbase said the restructuring will cost $50 million to $60 million, mainly recognized in the second quarter.

Reported · Written up by our desk · Market Structure

Coinbase shares rose as much as 4% early Tuesday after the US crypto exchange announced it will cut about 14% of its global workforce as part of a companywide restructuring focused on artificial intelligence, according to DL News.

CEO Brian Armstrong told employees in an email, later reposted on X, that the cuts reflect two forces, a crypto market that has declined sharply from its peak and accelerated use of AI to speed up engineering and automate workflows.

DL News said Coinbase had 4,951 employees as of December 31, 2025, implying the planned 14% reduction would affect about 693 workers.

The exchange expects to incur $50 million to $60 million in restructuring charges, mostly recognized in the second quarter, and Armstrong said the company is “rebuilding” around an AI model with human roles positioned around it.

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