Key Points
- Coinbase is reducing a fifth of its workforce adhering to an 18% workers reduction in June.
- CEO Brian Armstrong pointed to current strain on the crypto sector many thanks to “unscrupulous actors in the business,” referring to bankrupt exchange FTX and its founder, Sam Bankman-Fried.
- “The FTX collapse and the resulting contagion has established a black eye for the field,” Armstrong states, adding that you can find most likely far more “shoes to drop.”
