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RK Rooney has details morning Kate morning Carl thatamp;#39;s right so coinbase is blaming the crypto market downturn and broader macro environment for this latest round of layoffs The Exchange is cutting about 950 positions itamp;#39;s the second major round of layoffs for coinbase back in June the company let go of around a thousand people that was 18 of its Workforce at the time and cited a need to manage costs and said it grew too quickly during the bull market CEO Brian Armstrong telling me that looking back he says we should have done more when it came to layoffs but he says the best you can do is react quickly once information becomes available thatamp;#39;s what weamp;#39;re doing in this case Armstrong also underlined the companyamp;#39;s shifting Focus to operating efficiency and doing more with less as he put it the move will add some new restructuring costs in the first quarter but overall should bring operating expenses down by 25 percent coinbase also expects ebitda