Coinbase Stock Drops 2.70% with $1.022 Billion Trading Volume Ranking 52nd Amid Massive Layoffs and Global Retreat

On May 5, 2025, Coinbase Global (COIN) experienced a decline of 2.70%, with a trading volume of $1.022 billion, ranking 52nd in the day's stock market activity.

Coinbase has announced that it will be laying off 20% of its workforce, which is approximately 1,100 employees. This decision comes as the company seeks to reduce costs and streamline operations in response to the challenging market conditions. The layoffs are expected to impact various departments, including engineering, marketing, and customer support.

Coinbase has also revealed that it will be closing its operations in Japan, citing regulatory challenges and a lack of market demand as the primary reasons for the decision. The company will be winding down its operations in the country over the next few months, and employees based in Japan will be offered severance packages and support in finding new employment opportunities.

In addition to the layoffs and closure of operations in Japan, Coinbase has also announced that it will be suspending its operations in India. The company has cited regulatory uncertainty and a lack of clarity on the legal status of cryptocurrencies in the country as the primary reasons for the decision. Coinbase will be winding down its operations in India over the next few months, and employees based in the country will be offered severance packages and support in finding new employment opportunities.