2026 cost reduction and restructuring
Coinbase cut about 700 jobs, roughly 14% of staff, in May 2026. Full-year 2026 adjusted expense guidance was narrowed to $4.2 billion to $4.45 billion.
The numbers
What it is
After the crypto downturn, Coinbase cut about 700 roles in May 2026 and set a target of no more than five management layers below the CEO. The Q2 2026 restructuring charge was $52.4 million, mostly severance. Coinbase guides Q3 2026 adjusted expenses to $980 million to $1,080 million.
Why it matters to the stock. Lower expenses protect margins when transaction revenue falls. Adjusted EBITDA fell to $207.8 million in Q2 2026, so cost guidance is one of the main levers traders watch.
News
Coinbase Q2 2026 revenue falls 19% to $1.22 billion and it posts a $359.5 million net loss
Coinbase reported Q2 2026 total revenue of $1,220.1 million, down 19% year over year and 14% quarter over quarter.
Coinbase cuts about 700 jobs, roughly 14% of staff, and books $50M-$60M of charges
Coinbase filed an 8-K on May 5, 2026 to report a restructuring plan announced that day.