It is the third round of job slashing over the last year as key crypto companies go under.
But Mr Armstrong was adamant his company and crypto are going nowhere.
"Coinbase is well capitalized, and crypto isn't going anywhere. In fact, I believe recent events will ultimately end up benefiting Coinbase greatly," his blog post said.In November it cut more than 60 jobs in its recruiting and institutional onboarding teams and slashed 1,100 jobs, equivalent to 18% of its workforce back in June.Some business areas will be closed and others will operate with fewer workers as part of the headcount reduction.
"We will be shutting down several projects where we have a lower probability of success. Affected teams will receive communication on this today," Mr Armstrong said.Related Topics
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