Brian Armstrong

“laid off about 700 staff members”

“The CEO of Coinbase, Brian Armstrong, said in a letter to staff on May 5 that 14% of its staff would be cut, largely because of AI.”

“In an X post on Friday, CEO Brian Armstrong outlined five ways in which the crypto exchange is keeping AI costs low.”

“AI spending has fallen significantly, to nearly half its peak level.”

“Coinbase laid off 14% of its staff”