Coinbase layoffs pile up as crypto markets grapple with downward trends and ‘unscrupulous actors’

Jan 10 2023 by Fast Company

CEO Brian Armstrong has also warned of ‘further contagion’ in the broader cryptocurrency industry.

Layoffs continue to abound in the new year. First, it was Big Tech, yesterday it was banking, today it’s the crypto industry. Coinbase CEO Brian Armstrong has announced that the beleaguered crypto exchange will be laying off another 950 workers today—nearly 20% of its workforce. The cuts come after Coinbase previously laid off about 18% of its workforce, or around 900 workers, last...

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