{"id":538561,"date":"2023-01-10T18:11:06","date_gmt":"2023-01-10T15:11:06","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/coinbase-ceo-brian-armstrong-blames-unscrupulous-actors-for-latest-layoffs\/"},"modified":"2023-01-10T18:11:06","modified_gmt":"2023-01-10T15:11:06","slug":"coinbase-ceo-brian-armstrong-blames-unscrupulous-actors-for-latest-layoffs","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/coinbase-ceo-brian-armstrong-blames-unscrupulous-actors-for-latest-layoffs\/","title":{"rendered":"#Coinbase CEO Brian Armstrong blames &#8216;unscrupulous actors&#8217; for latest layoffs"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a33bd8873c7b\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a33bd8873c7b\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/coinbase-ceo-brian-armstrong-blames-unscrupulous-actors-for-latest-layoffs\/#%E2%80%9CCoinbase_CEO_Brian_Armstrong_blames_%E2%80%98unscrupulous_actors_for_latest_layoffs%E2%80%9D\" >&#8220;Coinbase CEO Brian Armstrong blames &#8216;unscrupulous actors&#8217; for latest layoffs&#8221;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9CCoinbase_CEO_Brian_Armstrong_blames_%E2%80%98unscrupulous_actors_for_latest_layoffs%E2%80%9D\"><\/span>&#8220;Coinbase CEO Brian Armstrong blames &#8216;unscrupulous actors&#8217; for latest layoffs&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div>\n<aside class=\"single__inline-module alignleft\">\n        <\/aside>\n<p>Coinbase CEO Brian Armstrong <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>eared to blame disgraced FTX founder Sam Bankman-Fried after his struggling company announced another round of sweeping layoffs on Tuesday.<\/p>\n<p>Armstrong, an outspoken critic of Bankman-Fried, referenced recent upheaval in the cryptocurrency industry stemming from FTX\u2019s collapse while confirming Coinbase has slashed about 950 workers, or roughly 20% of its overall workforce.<\/p>\n<p>\u201cIn 2022, the crypto market trended downwards along with the broader macroeconomy,\u201d Armstrong <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.coinbase.com\/blog\/a-message-from-ceo-and-co-founder-brian-armstrong-to-coinbase-employees\">said in a blog post.<\/a> \u201cWe also saw the fallout from unscrupulous actors in the industry, and there could still be further contagion.\u201d<\/p>\n<p>FTX\u2019s collapse into bankruptcy last November exacerbated existing problems for the cryptocurrency sector, which had already experienced a major drop in token prices and company valuations as risk-averse investors dumped their holdings.<\/p>\n<p>Bankman-Fried pleaded not guilty to eight federal charges last month. The feds have accused the former billionaire wonder boy of illicitly using FTX customer funds to bankroll his lavish lifestyle and cover losses at his cryptocurrency hedge fund Alameda Research.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/sam-bankman-fried-court-01032023-2.jpg?w=1024\" alt=\"Sam Bankman-Fried\" class=\"wp-image-25304687\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/sam-bankman-fried-court-01032023-2.jpg?quality=75&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/sam-bankman-fried-court-01032023-2.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/sam-bankman-fried-court-01032023-2.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Sam Bankman-Fried has pleaded not guilty to eight federal charges.<\/figcaption><figcaption><span class=\"credit\">REUTERS<\/span><\/figcaption><\/figure>\n<p>The job cuts are the latest sign of growing turmoil at Coinbase, which had previously laid off more than 1,100 employees, or about 18% of its workforce, in June. At the time, Armstrong warned that a looming US recession \u201ccould lead to another crypto winter\u201d that would hammer the sector for \u201can extended period.\u201d<\/p>\n<p>Armstrong said the latest round of cuts would allow Coinbase to slash its expenses by 25% this quarter compared to the previous quarter.<\/p>\n<p>\u201cI also want to be clear that, while some of the factors that have brought us to this point are beyond our control, accountability rests with me as the CEO,\u201d Armstrong added.<\/p>\n<p>The Coinbase boss also acknowledged that his firm \u201ccould have cut further\u201d when it announced the first round of layoffs last year. Coinbase expects $149 million to $163 million in charges related to its internal restructuring, which is projected to be \u201csubstantially complete\u201d by this summer.<\/p>\n<p>Armstrong has been openly critical of Bankman-Fried since FTX\u2019s downfall.<\/p>\n<p>In December, Armstrong accused the <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">media<\/a> of treating the FTX founder with \u201ckid gloves\u201d despite the allegations that he bilked customers out of billions of dollars.<\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"850\" height=\"1024\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/sam-bankman-fried-01032023.jpg?w=850\" alt=\"Sam Bankman-Fried\" class=\"wp-image-25304683\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/sam-bankman-fried-01032023.jpg?quality=75&amp;strip=all&amp;w=1700 1700w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/sam-bankman-fried-01032023.jpg?quality=75&amp;strip=all&amp;w=1275 1275w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/sam-bankman-fried-01032023.jpg?quality=75&amp;strip=all&amp;w=850 850w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/sam-bankman-fried-01032023.jpg?quality=75&amp;strip=all&amp;w=425 425w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/sam-bankman-fried-01032023.jpg?quality=75&amp;strip=all 1024w\" sizes=\"auto, (max-width: 850px) 100vw, 850px\"\/><figcaption>Sam Bankman-Fried is accused of bilking FTX customers out of billions.<\/figcaption><figcaption><span class=\"credit\">GC Images<\/span><\/figcaption><\/figure>\n<p>\u00a0When Bankman-Fried embarked on a media apology tour last year and gave interviews with several major publications, Armstrong called the whole situation \u201cpretty bizarre.\u201d<\/p>\n<p>\u201cI mean, this guy just committed a $10 billion fraud, and why is he getting treated with kid gloves?\u201d Armstrong said during an interview with\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/stratechery.com\/2022\/an-interview-with-coinbase-founder-and-ceo-brian-armstrong-about-ftx-and-crypto-realities\/\">tech newsletter Stratechery<\/a>.\n                        <\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/nypost.com\/2023\/01\/10\/coinbase-ceo-brian-armstrong-blames-unscrupulous-actors-for-latest-layoffs\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;Coinbase CEO Brian Armstrong blames &#8216;unscrupulous actors&#8217; for latest layoffs&#8221; Coinbase CEO Brian Armstrong appeared to blame disgraced FTX founder Sam Bankman-Fried after his struggling company announced another round of sweeping layoffs on Tuesday. Armstrong, an outspoken critic of Bankman-Fried, referenced recent upheaval in the cryptocurrency industry stemming from FTX\u2019s collapse while confirming Coinbase has&#8230;<\/p>\n","protected":false},"author":1,"featured_media":538562,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/brian-armstrong-sam-bankman-fried-comp.jpg?quality=75&strip=all&w=1024","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[74956,135234,89897,138291,76127,4960],"class_list":["post-538561","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-coinbase","tag-ftx","tag-sam-bankman-fried","tag-1-10-23","tag-cryptocurrency","tag-layoffs"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/538561","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=538561"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/538561\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/538562"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=538561"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=538561"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=538561"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}