{"schema_version":"secwatch.filing_event.v1","accession":"0001679788-23-000003","form_type":"8-K","ticker":"COIN","cik":"0001679788","company_name":"Coinbase Global, Inc.","filed_at":"2023-01-10T23:59:59+00:00","discovered_at":"2026-05-14T18:03:46.112545+00:00","generated_at":"2026-06-20T17:10:05.460100+00:00","sec_items":["2.02","2.05"],"event_type":"other_material","sentiment":"negative","materiality_score":0.85,"calibrated_materiality_score":0.85,"confidence":"high","headline":"Coinbase announces 950 layoffs, FY2022 Adj. EBITDA expected within -$500M loss guid","bullets":["Restructuring plan to cut ~950 employees, substantially complete by Q2 2023.","Expected total restructuring charges of $149M-$163M, including $58M-$68M cash severance and $91M-$95M stock-based compensation.","Preliminary FY2022 results: Adjusted EBITDA expected within prior negative $500M loss guardrail; other metrics consistent with outlook.","Q1 2023 operating expenses expected ~25% lower than Q4 2022 due to cost management."],"urls":{"canonical":"https://secwatch.observer/filing/0001679788-23-000003","json":"https://secwatch.observer/filing/0001679788-23-000003.json","markdown":"https://secwatch.observer/filing/0001679788-23-000003.md","text":"https://secwatch.observer/filing/0001679788-23-000003.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1679788/000167978823000003/0001679788-23-000003-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1679788/000167978823000003/coin-20230110.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-20T17:10:05.460100+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"919f094da21d27f2dbbe1042df0e469a0d0239cf","claim":"Coinbase Global, Inc. updated its year ended December 31, 2022 guidance (reaffirmed).","evidence_excerpt":"On January 10, 2023, Coinbase Global, Inc. (the “Company”) announced certain preliminary unaudited financial and operating results for its year ended December 31, 2022. The Company expects to report","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1679788/000167978823000003/0001679788-23-000003-index.htm","confidence":0.9,"family_label":"Earnings Releases","details":[{"label":"Period","value":"year ended December 31, 2022"},{"label":"Guidance","value":"reaffirmed"},{"label":"Result","value":"preliminary results"}],"fact_type":"earnings_release"},{"claim_id":"38fd7d9b74837f6e9b4606eb857eada308f3d426","claim":"Coinbase Global, Inc. announced a restructuring with charges of approximately $149 million to $163 million (approximately 950 employees).","evidence_excerpt":"execution of the Plan to be substantially complete by the second quarter of 2023. In connection with these actions, the Company estimates that it will incur approximately $149 million to $163 million in total restructuring expenses, consisting of approximately $58 million to $68 million in cash charges related to employee severance and other termination","evidence_source":"SEC 8-K Item 2.05/2.06","evidence_url":"https://www.sec.gov/Archives/edgar/data/1679788/000167978823000003/0001679788-23-000003-index.htm","confidence":0.9,"family_label":"Restructurings & Charges","details":[{"label":"Type","value":"restructuring"},{"label":"Charge","value":"approximately $149 million to $163 million"},{"label":"Headcount","value":"approximately 950 employees"}],"fact_type":"restructuring_charge"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}