Coinbase, the cryptocurrency exchange based in the United States, has announced it will lay off approximately 14% of its workforce, a decision made by CEO Brian Armstrong due to ongoing pressures from the volatile crypto market and a strategic shift towards integrating artificial intelligence (AI) into its operations. In a message to employees, Armstrong described the layoffs as a necessary step to protect customer information and to position the company for future growth. Affected employees will receive details regarding severance, equity vesting, and healthcare coverage, along with additional support for visa holders. Armstrong highlighted that AI is transforming workflows, enabling teams to accomplish tasks more efficiently. This restructuring aims to create a flatter organizational model with fewer layers, allowing for quicker decision-making and increased responsibility for leaders. The announcement comes just before Coinbase's first-quarter earnings report, with the company's stock rising nearly 2% in anticipation of the news.