Launched in 2012, Coinbase (Nasdaq: COIN) is now the largest cryptocurrency trading exchange in the United States. The brokerage firm Robinhood Markets (Nasdaq: HOOD), launched in 2013, has also become very popular among crypto traders. But a Wall Street bank is now attempting to challenge these dominant players with lower fees.

A number of technology companies are undergoing or facing massive layoffs, largely due in part to the rise of AI, and while some people may tune out the news because it feels concentrated on one industry,

Coinbase will cut roughly 14% of its workforce, citing a combination of market volatility and the how AI is quickly changing how the company operates.

Major tech firms are cutting thousands of jobs as AI reshapes the industry. Cognizant plans up to 15,000 layoffs, while Coinbase, PayPal, Microsoft, and Amazon are also slashing workforces, bringing total tech job losses in 2026 to over 92,

The largest U.S. crypto exchange said it was cutting jobs because of cryptocurrency market volatility and to “optimize” for the artificial intelligence era.

Coinbase CEO Brian Armstrong announces a 14% workforce reduction, citing AI's transformative impact on operations and the need for a leaner company structure.

Coinbase will cut 14% of staff and shift to AI-driven teams. Explore the unsettling yet efficient future of management without "pure managers."

Erik Reppel, who created the x402 protocol, said that the web economy depends heavily on advertising revenue generated from humans. AI agents bypass that system entirely.