Coinbase cuts 18% of Staff ahead of Crypto Winter 🥶 #shorts

According to an email issued to staff members on Tuesday, Coinbase will eliminate 18% of full-time positions.

CEO Brian Armstrong warned of a potential downturn, the need to control costs, and expanding "too quickly" during the bull market.

“We appear to be entering a recession after a 10+ year economic boom,” Armstrong says. “While it’s hard to predict the economy or the markets, we always plan for the worst so we can operate the business through any environment.”

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#Coinbase #crypto #recession

Source:
https://www.cnbc.com/2022/06/14/coinbase-lays-off-18percent-as-execs-prepare-for-recession-crypto-winter.html

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