"Over the past year, I've watched engineers use AI to ship in days what used to take a team weeks," Coinbase CEO Brian Armstrong wrote.

“We are not just reducing headcount and cutting costs, we’re fundamentally changing how we operate,” CEO Brian Armstrong said.

Crypto-linked equities are extending Monday’s rally into Tuesday morning. Shares of Circle Internet Group (NYSE:CRCL | CRCL Price Prediction), Coinbase Global (NASDAQ:COIN), and Strategy (NASDAQ:MSTR) all gained 3% in the premarket hours.

Coinbase is laying off 14% of its staff. Those who remain at the company are about to see quite a different workflow.

The partnership includes a strategic investment by Coinbase and is focused on expanding tokenized ETFs, credit, and structured products.

Coinbase is cutting 14% of its workforce amid market pressures and a shift toward artificial intelligence. CEO Brian Armstrong outlines severance, healthcare support, and the company's strategy to streamline operations while embracing AI-driven efficiencies.

Shares of crypto exchange Coinbase Global were up 3.4% in premarket trading after the company announced it would lay off approximately 14% of its staff. Chief executive Brian Armstrong said that the move comes as Coinbase aims to use artificial intelligence to become a leaner and faster company.