FILE: Coinbase CEO Brian Armstrong sits for a portrait inside the company’s San Francisco headquarters on May 4, 2018.

A San Francisco-founded cryptocurrency company, Coinbase, is set to slash 14% of its workforce as it shifts efforts toward artificial intelligence, CEO Brian Armstrong said in a Tuesday post on X.

The job cuts amount to approximately 700 workers, and the layoffs will be completed before the end of the second quarter of 2026, according to a U.S. Securities and Exchange Commission filing. The related restructuring efforts will cost the company $50 million to $60 million. 

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In an email to employees that Armstrong posted on X, he said the company........

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