Coinbase announced plans to lay off approximately 14% of its workforce, affecting around 700 employees, as part of a restructuring strategy aimed at adapting to the volatility in the cryptocurrency market and the transformative impact of artificial intelligence on business operations, which CEO Brian Armstrong described as a necessary move to ensure the company remains lean and efficient in the evolving tech landscape. #Coinbase #ArtificialIntelligence #CryptoMarket #US
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Coinbase Lays Off 14% of Employees as A.I. Changes Work
Coinbase, the largest U. S. crypto exchange, said on Tuesday that it planned to lay off about 14 percent of its workers amid volatility in the cryptocurrency market and as artificial intelligence changes how people work.