Brian Armstrong, Coinbase’s CEO, tweeted that the company will cut roughly 14% of its staff. The move follows a period of rapid growth and a shift in the crypto market, prompting leadership to streamline operations.

The announcement, posted on Twitter, signals a pivot toward leaner infrastructure and a tighter focus on core product development. Armstrong’s brief note highlights a decisive step to align resources with evolving business priorities.

With the reduction, Coinbase aims to improve profitability and accelerate innovation in key product areas. The decision underscores the volatility of the crypto sector and the need for agile responses from market leaders.