Coinbase to cut another 20% of its workforce in the second wave of layoffs

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Major cryptocurrency exchange Coinbase (NASDAQ:COIN) is starting 2023 with more layoffs, letting go of another 20% of its employees in a second major wave of layoffs.

Coinbase CEO Brian Armstrong officially announced on Jan. 10 that Coinbase will cut 950 jobs as part of the company’s measures to reduce the firm’s operating costs by around 25% amid the ongoing crypto winter.

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