PieFed
Coinbase lays off nearly 700 workers in 'AI-native' restructuring
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sanitationhttps://www.engadget.com/2165157/coinbase-lays-off-nearly-700-workers-in-ai-native-restructuring/
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Coorperate translation: we hired too many people and now out bussiness had a small downturn so we are firing people and pretending it has something to do with AI.
Armstrong claimed he’d seen… non-technical teams in the company are “shipping production code”
Oh yeah, that sounds good.
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Non-technical teams are shipping production code? Oh boy this is going to be biblical isn’t it?
Get ready for people losing all that was in their wallets.
Sounds like every crypto firm.
I just dont think anything can happen, because the majority of the keys are airgapped. The insurance then covers the online keys.
This is typical capitalism, dont maximize for quality when you can sidestep the repercussions.
I wouldn’t underestimate the security holes that spaghetti AI code will create. Hackers have had a motivation to get creative solving those problems for a long time. E.g., a persistent logger or listener over an extended time to collect rarely used keys when they production cross the air gap, for a single catastrophic hack later?
Ultimately in a code-illiterate world, the code-literate hacker is king.
Ya good point.
Yes. Whoever is the last human working at CoinBase sure would sure have an interesting day, having to deal with all that unclaimed BitCoin after AI deletes all their records.
This’ll be interesting.
Not your keys not your crypto.
Especially if their AI deletes their database in 9 seconds!
“Notorious Imbeciles do Imbecilic thing”
This is a weird one, because (in my experience) CoinBase was already wildly incompetent, before this.
How can they sacrifice all of their competence on the alter of AI, if they have no competence to sacrifice? One can’t re-delete the customer database after it has been deleted, if there wasn’t a backup.
One could be left with no choice but to disappear with all that BitCoin, I suppose.
I’ll be watching this with popcorn in hand.
Chinese is already in violation of so many banking laws. But no one seems to want to hold them accountable. Their customers lose money from hackers all the time.
AI crash gonna take crypto down with it. 🫣
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Hmm…
https://www.reuters.com/business/finance/coinbase-logs-second-straight-quarterly-loss-crypto-trading-momentum-fades-2026-05-07/
it’s a good thing they didn’t lay off anyone important… just coinbase employees
Ah, so that’s why their website told me I’m living at an address I haven’t been at for years even though I already notified them years ago. And why their form refuses to change it.
anyone still at coinbase after this has a responsibility of driving it into the ground with AI. do it for your fellow developers, do it for humans.
Let me guess, they’re going to “become an ai company” soon. Now that the crypto grift is over, gotta pivot to the next one.
still peddling crypto after sbf basically unravelled the PONZI scheme and everyone jumped shipped to next scheme, AI. people i know who invested alot in crypto all lost money on it, if you are not lucky on own bitcoins early one.
the first in many AI-native caused layoffs