Crypto

Crypto exchange Coinbase is laying off 14 percent of its workforce.

The decision has been made public by CEO Brian Armstrong. In a post on X, he explained that the layoffs are mainly due to two concerns: Bear market, and AI.

Coinbase is cutting 14 per cent of its workforce, roughly 660 employees from a company of 4,700, two days before it reports the worst quarterly earnings in its history as a public company. CEO Brian Armstrong announced the layoffs on Tuesday in a letter to staff that mentioned the crypto market downturn in passing and […]

• Coinbase is laying off 14% of its staff.
• Its CEO cited AI as the key reason for this, as it pivots to tiny teams and away from layers of management.
• The CEO's memo to staff had all the classic ingredients of a 2026 layoff letter.

Same story, different company.

Two years ago, Nscale was a cryptocurrency mining operation. On Tuesday, the company announced €695 million ($812 million) in new infrastructure investment in Portugal, an expansion of its partnership with Microsoft that will deliver more than 66,000 Nvidia Rubin GPUs to a site with 1.2 gigawatts of permitted capacity. Nscale is now valued at $14.6 […]