Coinbase (COIN) CEO says it has made the decision to reduce the size of the company by around 14%

Coinbase's decision to reduce its workforce by around 14% reflects a proactive response to challenging market conditions and the evolving landscape shaped by AI.

Newsquawk StaffPublished 5 May 2026, 11:16 UTCOn the live feed at 10:56 UTC — 9 more headlines followed before this page went public

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10:58

BioNTech (22UA GY/BNTX) Q1 2026 (EUR): adj. EPS -1.95 (prev. -1.73), Revenue 118mln (exp. 179mln)

10:57

American Electric Power (AEP) Q1 2026 (USD): Adj. EPS 1.64 (exp. 1.57), Revenue 6.02bln (exp. 5.72bln); ; New capital plan additions of USD 6bln raise expected operating earnings CAGR to greater than 9% through 2030

10:56

Coinbase (COIN) CEO says it has made the decision to reduce the size of the company by around 14%

10:53

Ferrari (RACE IM) Q1 2026 (EUR): EPS 2.33 (exp. 2.31), Revenue 1.85bln (exp. 1.83bln), EBITDA 722mln (exp. 710mln). Affirms FY26 guidance.

10:51

KKR & Co Inc (KKR) Q1 2026 (USD): EPS 1.39 (exp. 1.26), Revenue 4.32bln (may not compare to exp. 2.18bln); boosts buyback programme by USD 500mln and lifts dividend by 5%

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Reason for the move:

"Two forces are converging at the same time. We need to be front footed to respond to both."
"First, the market. second, AI is changing how we work."

Context

This contraction may signal broader industry struggles but highlights the company's adaptability, which could affect investor sentiment and set a precedent in the tech and crypto sectors.

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