Cryptocurrency exchange Coinbase is laying off 18 percent of its workforce - The Verge

Coinbase announced layoffs affecting about 1,100 employees, or 18 percent of its existing workforce. In a blog post, CEO Brian Armstrong blamed changing economic conditions, crypto winter, and that the company over hired.

Coinbase is laying off 1,100 employees as Bitcoin prices continue to fall Coinbase spent $14 million on a Super Bowl ad in February Illustration by Alex Castro / The Verge Just four months ago, Co… [+3761 chars]

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