What's happening with Coinbase? The company laid off 14% of its workforce, citing AI restructuring. Is it AI washing or management incompetence?

~700 layoffs (≈14% of ~5,000 staff) announced 5 May 2026, with continuing headcount of ~4,300; restructuring charge of $50–60m to be booked in Q2.

With Otabek, we broke down this case on the On The Ground podcast.