Coinbase Says Taking Steps To Streamline Operating Cost Structure, Including Recalibrating Hiring Plans, Optimizing Vendor Spend, Among Others

Chapter 3: Coinbase is adjusting to market conditions
 On the expense side, we’ve taken several steps to streamline our cost structure, including an 18% employee reduction in June. Overall, it will take some time to fully realize the financial impact of our actions, but we have lowered our fullyear expense range for Technology & Development and General & Administrative expenses. On the product side, we are taking a “pause, maintain, and prioritize” approach to product development and are focusing on five key areas.