Coinbase to slash 20% of workforce in 2nd important spherical of task cuts

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.”

Supply

Finance

Iran focus at Trump-Xi summit may delay progress on tariffs, rare earths

May 8, 2026

Key Points Iran war may dominate the first U.S. presidential visit to China since 2017. U.S. business delegation may be smaller than those other countries have brought to China recently, according to a source familiar with the matter. The timing of the next meeting — Chinese President Xi Jinping’s visit to the U.S. — is […]

Finance

Stocks making the biggest moves after hours: Akamai Technologies, Expedia, Lyft, Texas Roadhouse and more

May 7, 2026

Check out the companies making headlines after the bell : Gen Digital — The software stock popped 8% after sharing current-quarter and full-year revenue guidance that exceeded analysts’ expectations, per FactSet. Gen Digital also posted a fiscal fourth-quarter adjusted earnings and revenue beat. Airbnb — The vacation rental stock added 1%. First-quarter revenue of $2.68 […]

Finance

Stocks making the biggest moves midday: Planet Fitness, Whirlpool, Vital Farms, Shake Shack & more

May 7, 2026

Check out the companies making the biggest moves midday: Planet Fitness — Shares fell nearly 33% after the gym operator lowered its full-year earnings outlook. The company now sees its bottom line growing about 4% year on year. That’s down from a forecast that called for an expansion of 9% to 10%. Vital Farms — […]