More layoffs at Coinbase, cuts 20% | LinkedIn (2024)

FAQs

How many layoffs has Coinbase had? ›

The company is laying off about 950 people, it said in a memo to staff, which comes after it cut around 1,100 employees in June, also about a fifth of its work force at the time.

US cryptocurrency exchange Coinbase Global Inc. this week indicated that more layoffs could be in store, after cutting 20% of its workforce in January. Other trading venues including Crypto.com, Huobi Global, Gemini and Luno also announced job cuts in the past two months.

The employees in the U.S. who were laid off will be getting a minimum of 14 weeks base pay severance (with two additional weeks per year worked), health insurance, and other benefits, the company said.

We will be providing a comprehensive package to support you through this transition. For those of you in the US, this includes a minimum of 14 weeks base pay (2 additional weeks per year worked), health insurance, and other benefits. We are also providing extra transition support for impacted employees on a work visa.

The ownership structure of Coinbase Global (COIN) stock is a mix of institutional, retail and individual investors. Approximately 30.37% of the company's stock is owned by Institutional Investors, 10.23% is owned by Insiders and 59.40% is owned by Public Companies and Individual Investors.

Coinbase employees were in their previous roles for 2.7 years on average. Their employment duration at Coinbase drops to less than half that at 1.2 years.

Coinbase has a rapidly increasing user base and soaring revenue. The company's financial projections suggest it could become as valuable as today's most prominent companies. Tech companies benefited from the early days of the internet era; Coinbase is in a similar position with crypto.

In May 2022, amid a broad rout in the cryptocurrency markets, as reported by Bloomberg, Coinbase Global Inc. Chief Executive Officer Brian Armstrong said there is “no risk of bankruptcy” for the largest U.S. cryptocurrency exchange, even amid a “black swan” event.

Web and mobile: Futures trading is offered through Coinbase Financial Markets on Coinbase Advanced. To access futures on the mobile app, go to your profile and switch to Coinbase Advanced.

Is it Safe to Keep Crypto on Coinbase: Conclusion. Coinbase is GDPR compliant and a safe exchange trusted by millions of crypto users. Compared to many other cryptocurrency exchanges, Coinbase is one of the safest as the platform prioritises security to protect user assets.

Is it OK to keep money in Coinbase? ›

Coinbase markets itself as “the most trusted place for people to buy, sell, and manage crypto.” Given its host of cutting-edge security and encryption features, plus it being a publicly-traded, U.S. company, I agree – Coinbase is the safest place to invest in crypto.

Coinbase Vacation & Paid Time Off

Health benefits are strong and comparable. Unlimited PTO and 2 recharge weeks per year. There are 3 layers of time off. Some get unlimited time off, some accrue a time off balance, and Contractors get no time off.

Investors shifted away from this speculative asset class when the crypto market dropped, and due to various contributing factors, Coinbase has cut 2,100 employees since June 2022.

Coinbase Employees

Coinbase Global had 3,416 employees as of December 31, 2023. The number of employees decreased by 1,094 or -24.26% compared to the previous year.

How do employees rate Coinbase? Employees rate Coinbase 3.7 out of 5 stars based on 832 anonymous reviews on Glassdoor.

Coinbase layoffs: Brian Armstrong firing about 950 employees to combat crypto winter | Fortune.

Coinbase has approximately 4.8K employees as of June 2024. These team members are located across 6 continents, including North AmericaAsiaEurope.

Is Coinbase a good company to work for? Coinbase has an overall rating of 3.7 out of 5, based on over 959 reviews left anonymously by employees. 63% of employees would recommend working at Coinbase to a friend and 54% have a positive outlook for the business. This rating has improved by 1% over the last 12 months.