Dragonfly investor: Coinbase is expected to save $225 million annually in payroll expenses after layoffs.
Dragonfly investor Omar Kanji posted on X that Coinbase's 14% layoff is expected to save $225 million in annual payroll expenses. Previously, Coinbsea CEO Brian Armstrong posted on X that the company would be laying off approximately 14% of its workforce due to market conditions and a shift towards AI-native architecture.
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