Need to know what happened in crypto today? Here is the latest news on daily trends and events impacting Bitcoin price, blockchain, DeFi, NFTs, Web3 and crypto regulation.
Today in crypto, Coinbase said it will cut about 14% of its workforce, members of the US banking industry expressed dissatisfaction with the newly-proposed stablecoin provisions in the CLARITY Act, and the US Depository Trust & Clearing Corporation announced a plan to pilot tokenized securities.
Coinbase will cut about 14% of its workforce, or roughly 700 jobs, as CEO Brian Armstrong moves to make the crypto exchange leaner and more focused on artificial intelligence.
Armstrong said in an email to employees that Coinbase is responding to two forces at once: a down market that pressured the company’s quarter-to-quarter business and rapid advances in AI that are changing how teams work.
