© Reuters. FILE PHOTO: A representation of cryptocurrency is seen in front of Coinbase logo in this illustration taken March 4, 2022. REUTERS/Dado Ruvic/Illustration/File Photo
(Reuters) – Cryptocurrency exchange Coinbase (NASDAQ:) Global Inc said on Tuesday it will reduce its workforce by about 950 employees as part of a restructuring plan.
A clutch of crypto firms, gripped by an industry-wide downturn that has deepened with the collapse of major exchange FTX, have filed for bankruptcy protection in recent months.
Coinbase shares rose 2.9% in premarket trading.
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