---
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"
generated_at: "2026-06-20T17:10:05.460100+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Coinbase announces 950 layoffs, FY2022 Adj. EBITDA expected within -$500M loss guid

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: other_material
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 2.05
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001679788-23-000003
- JSON: https://secwatch.observer/filing/0001679788-23-000003.json
- Plain text: https://secwatch.observer/filing/0001679788-23-000003.txt

## Key facts
- Earnings Releases
  Coinbase Global, Inc. updated its year ended December 31, 2022 guidance (reaffirmed).
  - Period: year ended December 31, 2022
  - Guidance: reaffirmed
  - Result: preliminary results
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/1679788/000167978823000003/0001679788-23-000003-index.htm
- Restructurings & Charges
  Coinbase Global, Inc. announced a restructuring with charges of approximately $149 million to $163 million (approximately 950 employees).
  - Type: restructuring
  - Charge: approximately $149 million to $163 million
  - Headcount: approximately 950 employees
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/1679788/000167978823000003/0001679788-23-000003-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.