Coinbase Lays Off 20% of Staff, Warns of ‘Further Contagion’ in Crypto

Coinbase announced on Tuesday that it would lay off 20% of its employees—950 people out of an estimated 4,700—in an effort to significantly reduce its operating expenses. It’s the company’s second large round of layoffs in less than a year. In June, Coinbase laid off 1,100 employees.

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