Coinbase Cuts 14% of Staff as Kalshi Sees 92% Odds of More Layoffs
Tech Coinbase Cuts 14% of Staff as Kalshi Sees 92% Odds of More LayoffsCoinbase cuts 14% workforce as Kalshi sees 92% odds 2026 tech layoffs exceed 2025 levels.Armstrong says AI lets engineers ship in days what previously took entire teams several weeks.Coinbase previously cut 18% in 2022 and 20% in 2023, but those were market-driven, not AI-driven. Coinbase‘s decision to cut approximately 700 jobs, or 14% of its workforce, on Tuesday is being read by prediction market traders as confirmation of a trend that is only getting started. Kalshi currently prices a 92% probability that total tech layoffs in 2026 will exceed the 447,000 recorded in 2025. With the Bureau of Labor Statistics already reporting 178,000 layoffs in the information sector through March alone, that threshold looks increasingly likely to be crossed well before year’s end. Coinbase is the latest data point in what is becoming a clear pattern. Block cut more than 4,000 of its 10,000-plus employees in February, explicitly citing artificial intelligence as the operational driver. Tuesdays announcement from Coinbase carries the same stated rationale, separating both companies from the wave of market-driven cuts that defined 2022 and 2023. Armstrongs Explanation CEO Brian Armstrong published the internal email he sent to staff, laying