In Coinbase crypto news today, the exchange confirmed on Tuesday, May 5, 2026, that it will eliminate approximately 700 positions, roughly 14% of its global workforce, as CEO Brian Armstrong cited rapid advances in artificial intelligence as justification for moving to smaller, more automated teams, with the exchange also absorbing a sustained decline in retail trading volumes since Bitcoin’s October 2025 peak near $125,000.

The COIN layoffs, which carry an estimated $50M to $60M in restructuring charges concentrated in Q2 2026, represent the most direct signal yet that crypto exchange efficiency is no longer measured in headcount but in output per AI-enabled employee, a recalibration Armstrong framed not as contraction but…