Coinbase is cutting 700 employees, representing 14% of its workforce, as part of a restructuring focused on AI. CEO Armstrong is eliminating pure management roles and testing one-person teams utilizing AI agents, following a $667 million net loss and a 21.6% revenue drop in Q4 2025.

This is an email I sent earlier today to all employees at Coinbase: Team, Today I’ve made the difficult decision to reduce the size of Coinbase by ~14%. I want to walk you through why we're doing this now, what it means for those affected, and how this positions us for the