https://techcrunch.com/2022/06/14/coinbase-ceo-says-it-is-laying-off-18-of-its-workers/

Coinbase CEO Brian Armstrong said today that the company will reduce its workforce by 18% — nearly 1,100 people — to “stay healthy during this economic downturn.”

The crypto exchange, which went public last year with share prices touching the $350 mark, has lost momentum and is trading at nearly $52 per share with a market cap of under $12 billion at the time of writing.