Coinbase Cuts Jobs to Use AI

May 5, 2026, 20:43
GlobalFinance

Introduction

Coinbase is removing 14% of its workers. The company wants to save money and use artificial intelligence (AI).

Main Body

Coinbase is firing about 700 people. Fewer people are trading digital money now. The company will spend $50 million to $60 million on this change. CEO Brian Armstrong wants 'tiny teams'. Now, AI can do a lot of work. People who do not know how to code can use AI to build things. Other big tech companies are doing this too. Some people worry about this. AI can make mistakes. Companies need very smart workers to check the AI work.

Conclusion

Coinbase will finish these changes by 2026. The company wants to be small and fast for the future.

Learning

⚡ The "Doing" Words (Present Simple)

In this story, we see words that describe things happening now or regularly. This is the heart of A2 English.

Pattern: Subject + Action

  • Coinbase cuts jobs.
  • AI can do work.
  • Companies need workers.

🛠ī¸ Changing the Action

Notice how the word changes when we talk about one company versus many people:

  • One thing (Single): Coinbase wants (Add -s)
  • Many things (Plural): Companies need (No -s)

Quick Map: Company →\rightarrow wants →\rightarrow tiny teams Workers →\rightarrow worry →\rightarrow about AI

💡 Useful Phrases for You

Instead of long sentences, use these simple building blocks from the text:

  • "do a lot of..." →\rightarrow AI can do a lot of work.
  • "worry about..." →\rightarrow Some people worry about this.
  • "spend [money] on..." →\rightarrow Spend $50 million on this change.

Vocabulary Learning

artificial intelligence (n.)
The ability of computers to think and learn like humans.
Example:Artificial intelligence can help us solve complex problems.
removing
to take something away or delete it
Example:She is removing the old posters from the wall.
digital money (n.)
Money that exists only in electronic form.
Example:Many people use digital money to buy online.
artificial
made by people, not natural
Example:The artificial lake was built for irrigation.
CEO (n.)
The chief executive officer, the top manager of a company.
Example:The CEO announced a new plan for the company.
intelligence
the ability to learn and understand
Example:Her intelligence helped her solve the puzzle.
mistakes (n.)
Things that are done incorrectly.
Example:Everyone makes mistakes when learning a new skill.
digital
related to computers or electronic devices
Example:He likes to read digital books on his tablet.
smart (adj.)
Having quick and good thinking ability.
Example:She is a smart student who solves puzzles easily.
companies
businesses that sell goods or services
Example:Many companies offer free coffee to employees.
change (n.)
A difference or new version.
Example:The company is making big change to improve efficiency.
mistakes
things that are wrong or incorrect
Example:Everyone makes mistakes when learning.
future (n.)
Time that comes after the present.
Example:We plan for a better future.
smart
intelligent or clever
Example:She is a smart student who always gets good grades.
team (n.)
A group of people working together.
Example:The team worked hard to finish the project.
finish
to complete or end something
Example:He will finish his homework before dinner.
code (n.)
A set of instructions for a computer.
Example:He wrote code to create a simple game.
future
time that is to come
Example:They plan to travel abroad in the future.
check (v.)
To examine to see if something is correct.
Example:Please check your work before submitting.