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Coinbase Is Shedding 18% Of Workforce Amid “Crypto Winter” Talk

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Coinbase Global Inc (NASDAQ:COIN) is set to lay off 1,100 employees or 18% of its staff, according to a filing with the U.S. Securities and Exchange Commission. CEO Brian Armstrong pinned the decision on the changing economic conditions that could make a “crypto winter” more likely. Coinbase LayoffArmstrong was quoted as saying in The Verge, “The broader market downturn means that we need to be more mindful of costs as we head into a potential recession.” Q1 2022 hedge fund letters, conferences and more “We also grew quite quickly over the past two years and have begun to operate less efficien…

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