Coinbase CEO Brian Armstrong. Bloomberg/Getty Images Coinbase is cuting 14% of its workforce, affecting about 700 roles. CEO Brian Armstrong pointed to AI's role in boosting efficiency to operate with smaller teams. Coinbase joins firms like Snap and Block in citing AI advancements when announcing layoffs. Coinbase is cutting 14% of its workforce, CEO Brian Armstrong said. On Tuesday, Armstrong took to X to publicly share the contents of an email he said he had sent to employees earlier that day. In the post, Armstrong said the cuts were to "be leaner, faster, and more efficient for our next phase of growth" during periods of volatility in the cryptocurrency market. He also said AI is changing the way the cryptocurrency company works. "Over the past year, I've watched engineers use AI to ship in days what used to take a team weeks," he said. Coinbase employed 4,951 people at the end of 2025, meaning the cuts stand to affect about 700 staff.…