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

When it comes to saving, Gen Z asks: ‘What’s the point?’ That’s dangerous, expert says

June 7, 2025

FA Playbook When it comes to saving, Gen Z asks: ‘What’s the point?’ That’s dangerous, expert says Published Sat, Jun 7 20256:15 AM EDT Greg Iacurci@GregIacurci WATCH LIVE Source

Finance

Stocks making the biggest moves midday: Petco Health, Tesla, Circle, Lululemon & more

June 6, 2025

Check out the companies making the biggest moves midday: Petco Health — The retailer slumped 22% after losing 4 cents per share in the fiscal first quarter, twice the 2-cent loss that analysts had estimated, based on FactSet data. Revenue of $1.49 billion missed the Street’s $1.50 billion consensus, while same-store sales dropped 1.3%, worse […]

Finance

Swiss government proposes tough new capital rules in major blow to UBS

June 6, 2025

Key Points The Swiss government proposed strict new capital rules that would require banking giant UBS to hold an additional $26 billion in core capital. The measures would also mean that UBS will need to fully capitalize its foreign units and carry out fewer share buybacks. The Swiss National Bank said it supported the measures […]