Coinbase To Layoff 950 Employees In Another Round Of Job Cuts

Crypto exchange Coinbase has announced another round of layoffs. The exchange cited the persisting "market conditions impacting the cryptoeconomy."

The firm’s restructuring would cut its headcount by approximately 950 employees and the cost to do so plus severance packages, could range up to $163 million.

The layoffs are expected to conclude by the second quarter of 2023.

Coinbase is currently the second-largest crypto exchange in the market based on 24-hour volume.

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