Crypto exchange Coinbase is laying off 14 percent of its workforce. The decision has been made public by CEO Brian Armstrong. In a post on X, he explained that the layoffs are mainly due to two concerns: Bear market, and AI. "Coinbase is well-capitalized, has diversified revenue streams, and is well-positioned to weather any storm," he wrote. "However, our business is still volatile from quarter to quarter [...] we’re currently in a down market and need to adjust our cost structure." Mashable Light Speed Cryptocurrencies , including Bitcoin and Ethereum, are currently recovering after a sharp downturn that started late last year . The price of Bitcoin is currently at about $81,400, down from its highs of about $127,000 in August 2025. This Tweet is currently unavailable. It might be loading or has been removed. Armstrong also explained that AI is changing how the company works.…