Coinbase boss fires 700 workers in 6:55 a.m. email saying company must become ‘lean, fast, and AI-native’

Source: New York Post

Coinbase chief executive Brian Armstrong informed employees in an early morning message Tuesday that the cryptocurrency exchange would eliminate roughly 14% of its workforce — about 700 jobs — as the company restructures around artificial intelligence. Armstrong shared the memo publicly on social media shortly before 7 a. m.