Coinbase said on Tuesday it will cut about 700 jobs, or about 14% of its global workforce, as part of a restructuring plan aimed at reducing costs and repositioning the business for the AI era.
Shares of the crypto exchange were up 4.66% in premarket trading.
The company expects to complete the exercise largely in the second quarter of 2026.
Coinbase expects to incur about $50 million to $60 million in total restructuring expenses, mainly tied to employee severance and other termination benefits, with most of the charges to be recognized in the second quarter.
Source: Reuters
