Coinbase plans to cut 14 per cent of its workforce to capitalise on AI advances, as chief executive Brian Armstrong vowed to rebuild the crypto exchange as an “intelligence, with humans around the edge aligning it.”
In a memo to staff on Tuesday, Armstrong said all companies, including Coinbase, had reached an “inflection point” at which failing to adopt AI was the biggest risk.
The technology would now be at Coinbase’s “core”, he said in a post on X, as the US-listed group also blamed the downturn in the crypto market for the decision to cut staff.
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