A number of technology companies are undergoing or facing massive layoffs, largely due in part to the rise of AI, and while some people may tune out the news because it feels concentrated on one industry,

Several companies have announced workforce shakeups as more firms rely on AI.

Coinbase CEO Brian Armstrong says the company remains ‘well-positioned to weather any storm.’

"Over the past year, I've watched engineers use AI to ship in days what used to take a team weeks," Coinbase CEO Brian Armstrong wrote.

The partnership includes a strategic investment by Coinbase and is focused on expanding tokenized ETFs, credit, and structured products.

Crypto-linked equities are extending Monday’s rally into Tuesday morning. Shares of Circle Internet Group (NYSE:CRCL | CRCL Price Prediction), Coinbase Global (NASDAQ:COIN), and Strategy (NASDAQ:MSTR) all gained 3% in the premarket hours.

In a Tuesday X post, CEO Brian Armstrong said the cuts were to "be leaner, faster, and more efficient for our next phase of growth."

Increased blockchain adoption could help Coinbase more than Bitcoin.

Coinbase (NASDAQ:COIN | COIN Price Prediction) stock currently trades around $191, while Wall Street’s average price target sits at $241. That implies an upside of roughly 26% from the current stock price to where analysts think the stock should be trading.

Software shares continue to feel the impact of AI uncertainty, with news coming out about job cuts at PayPal and Coinbase as well as disappointing commercial sales from Palantir. Lauren Webster, managing director in the technology investment banking group at Piper Sandler,