Coinbase Crypto Exchange to Cut Nearly 1,000 Jobs

Coinbase Global Inc. COIN 1.30%increase; green up pointing triangle said that it would eliminate around 20% of its staff and enact broad cost cuts, the latest sign of pain in the cryptocurrency industry.

Chief Executive Brian Armstrong said in a blog post Tuesday that crypto exchange Coinbase will reduce operating expenses by 25% from the previous quarter, including laying off about 950 people. At the end of September, the company had around 4,700 employees...

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