Coinbase boss fires 700 workers in 6:55 a.m. email saying company must become ‘lean, fast, and AI-native’

Coinbase chief executive Brian Armstrong informed employees in an early morning message Tuesday that the cryptocurrency exchange would eliminate roughly 14% of its workforce — about 700 jobs — as the company restructures around artificial intelligence. Armstrong shared the memo publicly on social media shortly before 7 a.m., telling staff the cuts were necessary as AI rapidly reshapes how work is done across the tech industry. The billionaire co-founder said impacted employees would receive additional details within the hour, though some workers later said their access to company systems had already been limited by the time the email landed. “I...