After initially slowing down hiring, Coinbase announced plans to reduce its headcount by 18%, with the CEO citing a starting economic recession.
Brian Armstrong News
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“Nothing about Coinbase changed this week, we are the same company we were yesterday, or a year ago. If anything, we are in an even stronger position given our balance sheet,” assured Coinbase CEO Brian Armstrong.
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“There are so many customers beating a path to our door that we have to have all hands on deck just to keep everything running,” Coinbase CEO Brian Armstrong explained on an earnings call.
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“Given the intensity of our work throughout the year, we think this is the best way to ensure our pace is sustainable for the long term,” said chief people officer L. J. Brock.
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The estate was formerly owned by Ellen Bronfman Hauptman, the daughter of billionaire Seagram’s heir Charles Bronfman.
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Ten times as many people have signed up for Coinbase’s upcoming NFT platform than OpenSea saw in total over the past 30 days.
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Coinbase posted total net revenue of $1.235 billion in Q3 falling 30% short of FactSet estimates of $1.614 billion.
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Kraken’s Marco Santori points to the adversarial stance taken by some crypto firms toward regulators.
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Coinbase CEO Brian Armstrong has stated that the SEC won’t meet with the firm while asserting that 50% of Washington officials are concerned over the risks of crypto.
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“They refuse to tell us why they think it’s a security, and instead subpoena a bunch of records from us,” said Brian Armstrong after he revealed that the SEC threatened to sue Coinbase.
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The crypto exchange boss is the latest to decry plans to enact sweeping changes to cryptocurrency tax reporting in the United States.
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Crypto is a “much-needed breath of fresh air” for those who believe that state solutions are often “inefficient, overpromise or underdeliver,” Brian Armstrong said.
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Armstrong said he had spoken about China’s central bank digital currency with lawmakers and heads of federal agencies, believing it to be "a threat to U.S. reserve currency status long term."
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Coinbase is looking to bolster its global presence, announcing it will focus on launching new products “in most countries by default” moving forward, including a crypto app store.
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Coinbase has launched a fact-checking portal to combat “misinformation and mischaracterizations about Coinbase or crypto” being shared online.
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