Coinbase lays off 18% of workforce as executives prepare for recession and ‘crypto winter’

From cnbc.com

President and Chief Operating Officer Emilie Choi called it a “very difficult decision for Coinbase” but given the economic backdrop, she said it “felt like the most prudent thing to do right now.” Affected employees received a notification from human resources. If so, the memo was sent to a personal email as Coinbase cut off access to the company systems. Armstrong called it the “only practical choice” given the number of employees with access to customer information, and a way to “ensure not even a single person made a rash decision that harmed the business or themselves.” Coinbase employees will ... (full story)