Coinbase: Lays Off 14% Workforce

Coinbase $COIN slashes roughly 14% of its workforce, as CEO Brian Armstrong detailed in a letter to employees today. This move hits amid ongoing crypto market volatility, with Bitcoin BTC prices fluctuating wildly over the past six months. Armstrong cited operational efficiency needs in the face of regulatory pressures and shifting crypto exchange dynamics. The layoffs echo similar cuts at rivals, underscoring broader crypto industry layoffs 2026 trends. Investors eye how this impacts Coinbase stock performance in a market still reeling from last year's downturns.