A message from Coinbase CEO and Cofounder, Brian Armstrong

By Brian Armstrong, CEO and Cofounder

Earlier today, I shared the following note with all Coinbase employees.


Today I am making the difficult decision to reduce the size of our team by about 18%, to ensure we stay healthy during this economic downturn. I want to walk you through why I am making this decision below, but first I want to start by taking accountability for how we got here. I am the CEO, and the buck stops with me.

What has changed?

Over the past month, I’ve had many conversations with our Exec team and our Board to discuss recent market events as well as the state of our business. Several realities have become clear to me in these discussions:

  • Economic conditions are changing rapidly: We appear to be entering a recession after a 10+ year econ ..

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