Coinbase to lay off 1100 employees

Coinbase crypto exchange

Coinbase is the latest crypto firm to take an axe to its workforce, outlining plans to lay off around 1100 people – 18% of its workforce – as it looks to cut costs in the face of “current market conditions”. In an SEC filing, the firm says it will reduce its workforce to about 5000 this quarter – by 30 June. The move will cost between $40 million and $45 million in severance and other termination benefits. Coinbase had already put in place a hiring freeze and rescinded a host…

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