He said that adding new employees had made the company less efficient, not more.
Coinbase CEO@brian_armstrongannounced today the difficult decision to reduce the size of the Coinbase team by 18%.
It has also invested heavily in advertising, with aubiquitous campaignfeaturing actor Matt Damon.
Bitcoin, the world’s largestcryptocurrency, fell to itslowest point since 2020on Monday.
This follows the Maycollapse of the stablecoin TerraUSD.
Its demise caused the cryptocurrency market to lose$200 billion in one day.
