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Coinbase is cutting roughly six hundred sixty jobs, about fourteen percent of its workforce, with CEO Brian Armstrong pointing directly at artificial intelligence as the reason fewer people are needed to get the work done. It's a candid admission from one of crypto's most prominent companies that the industry is quietly restructuring around automation.
That news lands against a broader backdrop of confidence in the crypto space, where Bitcoin is holding firmly above eighty thousand dollars, the DTCC is moving toward tokenizing financial assets, and crypto venture capitalist Katie Haun has raised one billion dollars despite a prolonged market slump. The money is still flowing, even if the headcount isn't.
Meanwhile, over on Telegram, founder Pavel Durov has pledged to slash platform fees to near-zero, and the market responded immediately. TON, the blockchain tied to Telegram, surged thirty-six percent, with meme coins built on the network posting gains of up to one hundred fifty percent. Whether that momentum holds depends on whether Durov's promises translate into actual infrastructure change.
That's the day in tech. Keep surfing. Tech Beat out.
