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This is an email I sent earlier today to all employees at Coinbase:
Team,
Today Iāve made the difficult decision to reduce the size of Coinbase by ~14%. I want to walk you through why we're doing this now, what it means for those affected, and how this positions us for the future.
Why now
Two forces are converging at the same time. We need to be front footed to respond to both.
First, the market. Coinbase is well-capitalized, has diversified revenue streams, and is well-positioned to weather any storm. Crypto is also on the verge of the next wave of adoption, with stablecoins, prediction markets, tokenization, and more taking off. However, our business is still volatile from quarter to quarter. While we've managed through that cyclicality many times before and come out stronger on the other side, weāre currently in a down market and need to adjust our cost structure now so that we emerge from this period leaner, faster, and more efficient for our next phase of growth.
Second, AI is changing how we work. Over the past year, Iāve watched engineers use AI to ship in days what used to take a team weeks. Non-technical teams are now shipping production code and many of our workflows are being automated. The pace of what's possible with a small, focused team has changed dramatically, and it's accelerating every day.
All of this has led us to an inflection point, not just for Coinbase, but for every company. The biggest risk now is not taking action. We are adjusting early and deliberately to rebuild Coinbase to be lean, fast, and AI-native. We need to return to the speed and focus of our startup founding, with AI at our core.
What this means
To get there, we are not just reducing headcount and cutting costs, weāre fundamentally changing how we operate: rebuilding Coinbase as an intelligence, with humans around the edge aligning it. What does this mean in practice?
- Fewer layers, faster decisions: We are flattening our org structure to 5 layers max below CEO/COO. Layers slow things down and create coordination tax. The future is small, high context teams that can move quickly. Leaders will own much more, with as many as 15+ direct reports. Fewer layers also means a leaner cost structure that is built to perform through all market cycles.
- No pure managers: Every leader at Coinbase must also be a strong and active individual contributor. Managers should be like player-coaches, getting their hands dirty alongside their teams.
- AI-native pods: Weāll be concentrating around AI-native talent who can manage fleets of agents to drive outsized impact. Weāll also be experimenting with reduced pod sizes, including āone person teamsā with engineers, designers, and product managers all in one role.
In short: AI is bringing a profound shift in how companies operate, and weāre reshaping Coinbase to lead in this new era. This is a new way of working, and we need to leverage AI across every facet of our jobs.
To those who are affected
I know there are real people behind these decisions ā talented colleagues who have poured themselves into this company and our mission. To those of you who will be leaving: thank you. Youāve helped build Coinbase into what it is today, and I am sincerely grateful for everything you've done.
All impacted team members will receive an email to their personal account in the next hour with more information, and an invitation to meet with an HRBP and a senior leader in your organization. Coinbase system access has been removed today. I know this feels sudden and harsh, but it is the only responsible choice given our duty to protect customer information.
To those affected, we will be providing a comprehensive package to support you through this transition. US employees will receive a minimum of 16 weeks base pay (plus 2 weeks per year worked), their next equity vest, and 6 months of COBRA. Employees on a work visa will get extra transition support. Those outside of the US will receive similar support, based on local factors and subject to any consultation requirements.
Coinbase prides itself on talent density. Our employees are among the most talented people in the world, and I have no doubt that your skills and experience will be highly sought after as you pursue your next chapters.
How we move forward
To the team that is staying, I know this is a difficult day. Weāre saying goodbye to colleagues and friends you've been in the trenches with. But hereās what I want you to know as we move forward together:
Over the past 13 years, we have weathered four crypto winters, gone public, and built the most trusted platform in our industry. Weāve made it this far by making hard decisions and by always staying focused on our mission. This time will be no different ā nothing has changed about the long term outlook of our company or industry. And most importantly, our mission has never been more important for the world. Increasing economic freedom requires a new financial system, and weāre building it.
The Coinbase that emerges from this will be more capable than ever to achieve our mission.
Brian
yesterday while I cooked dinner for my son, he was so mature and said, "one day iāll help you with bills, groceries, and expenses."
my eyes teared up
heās a 33 year old crypto trader
Strategy has acquired 13,927 BTC for ~$1.00 billion at ~$71,902 per bitcoin and has achieved BTC Yield of 5.6% YTD 2026. As of 4/12/2026, we hodl 780,897 $BTC acquired for ~$59.02 billion at ~$75,577 per bitcoin. $MSTR $STRC https://t.co/xVKjg2cEVP
BREAKING: The SEC has formally classified SOL as a digital commodity in its new crypto asset taxonomy, alongside BTC, ETH,Ā and 14 other assets.
SOL is not a security.
If you believe in somĪTHing, this one's for you.
ETH-backed loans are here.
You can borrow USDC against your Ethereum, unlocking liquidity without selling.
Available now in the U.S. (ex. NY).
Cryptomarket Check-In. Major Events & Headlines
This snapshot highlights key updates, including the upcoming #FOMC decision with @Polymarket bets, Chinaās ban on #NVIDIA chips, #0G Airdrop Portal and Binance Pre-Market launch, XPIN dNFT Grab Season, and more.
When Bitcoin hits $100,000 I will give 1 BTC to one person who follows me.
The rules are simple:
- like this tweet, follow me and RT
- comment ā100k incomingā
Letās go! $BTC #bitcoin
cbBTC is onchain.
cbBTC is an ERC20 token that is backed 1:1 by Bitcoin (BTC) held by Coinbase.
This means millions of BTC holders can now securely access DeFi apps on @base and Ethereum ecosystemsāwith more chains coming soon.
Hereās what you need to know ā
IMO there are 4 elements that make up Ethereum:
-Ethereum the layer 1 blockchain
-Ethereumās layer 2 blockchains
-Ethereumās shared security via restaking
-ETH the asset
The most overlooked of these is ETH the asset.
Bitcoin is almost entirely valued off BTC the asset not Bitcoin the network.
Yet it feels like Ethereum is almost entirely assessed solely based on Ethereum the layer 1 blockchain.
Yet ETH the asset is actually really interesting when compared with BTC.
ETH is:
-widely exported across L2ās
-Used as a financial building block for many different types of crypto assets
-Overall very much deflationary since the merge
-Has sustainable security and revenue.
-Yield bearing
-Widely staked, held in treasuries and held long term by investors
-Has lots of public mindshare
-ETF incoming 2024 or 2025
The more layer 2ās that launch the more ETH is exported and used as money.
The more ETH is exported the stronger it becomes as money.
This is the true value of L2ās.
There will always be demand for Ethereum the layer 1 blockchain from those who require a battle tested, credibly neutral, high security chain.
The users and usage of ETH will be on layer 2ās and via shared security.
The fees will be on the layer 1.
Supply will continue to overall be down only.
Short term the market is a voting machine, long term itās a weighing machine.
So thereās billions of dollars flowing into coins that represent memes, like āRetardioā and people are betting on how long the joke will last. And then thereās this guy Ansem, and whatever he says, people buy. He said Dog Wif Hat would go up when it was a penny and now itās worth billions. That joke will always be funny because itās a dog with a hat.