Coinbase cuts about 700 jobs to focus on AI
NewsBytes | May 5, 2026 9:40 PM CST
Coinbase layoffs cost $50 million to $60 million
This round of layoffs will cost Coinbase an estimated $50 million to $60 million, mostly for severance packages, with most cuts wrapping up largely in the second quarter of 2026.
Investors seem to approve: Coinbase shares jumped nearly 5% after the news, signaling confidence in the company's new direction.
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