Layoffs

The San Francisco ETF issuer is down to about 155 people. CIO Matt Hougan says bitcoin has bottomed; the timing of the cuts suggests the firm is not banking on it.

Coinbase will lay off roughly 660 employees and rebuild around AI-native pods, two days before reporting a quarter in which revenue fell 26 per cent and trading volume hit an 18-month low.

eBay's decision to axe 30 per cent of its web3 team — including a KnownOrigin co-founder — lays bare what happens when a cash-rich corporation gambles on hype instead of doing what it does best.

eBay has cut more than 30% of its Web3 division staff and halted all plans for NFTs and digital collectibles on its platform, roughly 18 months after acquiring Manchester-based NFT marketplace KnownOrigin.