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Coinbase Announces Cost-Cutting Measures as Crypto Firms Face Bear Market
The Coinbase news follows an announcement of layoffs at fellow exchange Gemini earlier today.
Oleh Zack Seward
Coinbase (COIN) is the latest crypto firm to announce cutbacks.
In a blog post written by Chief People Officer L.J. Brock, Coinbase said Thursday it "will extend our hiring pause for both new and backfill roles for the foreseeable future and rescind a number of accepted offers."
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The cutbacks come "in response to the current market conditions and ongoing business prioritization efforts," he wrote.
The cost-cutting measures will see Coinbase rescind "a number of accepted offers" to prospects yet to start, and extend the two-week hiring pause "for as long as this macro environment requires."
The hiring freeze is a continuation of a plan announced last month. The latest announcement comes after fellow exchange Gemini announced Thursday it was laying off 10% of its staff, or roughly 100 people.
Read more: Coinbase Outlines Cost-Cutting Measures, Employee Grants Amid Weak Results and Crypto Rout: Report
Crypto exchanges globally have felt the market crunch. In recent weeks, Latin America's top exchange Bitso fired 80 employees, Argentina's Beunbit nearly halved its staff and Middle Eastern exchange Rain reportedly laid off "dozens."
"Adapting quickly and acting now will help us to successfully navigate this macro environment and emerge even stronger, enabling further healthy growth and innovation," wrote Coinbase's Brock.
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KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
Yang perlu diketahui:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
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Tom Lee urges BitMine shareholders to approve share increase ahead of January 14 vote
The chairman of the former bitcoin miner-turned-ether treasury firm reiterated his view that Ethereum is the future of finance.
Yang perlu diketahui:
- Tom Lee, chairman of Bitmine Immersion (BMNR), urged shareholders to approve an increase in the company's authorized share count from 500 million to 50 billion.
- Lee assured shareholders that the increase is not intended to dilute shares, but instead to enable capital raising, dealmaking, and future share splits.
- Shareholders have until January 14 to vote on the proposal, with the annual meeting scheduled for January 15 in Las Vegas.
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