Coinbase to Lay Off 1,100 Employees Amid Turmoil in Crypto Markets

Cryptocurrency exchange Coinbase Global Inc said on Tuesday it would slash 18% of its workforce, or about 1,100 jobs, as part of efforts to rein in costs amid volatile market conditions.

Coinbase said earlier this month that it would extend its hiring freeze for the foreseeable future and rescind a number of accepted offers.