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Coinbase lays off nearly 700 workers in 'AI-native' restructuring (www.engadget.com)
submitted 1 week ago by sanitation@lemmy.radio to c/technology@lemmy.world
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[-] Darkcoffee@sh.itjust.works 85 points 1 week ago

Armstrong claimed he'd seen engineers "use AI to ship in days what used to take a team weeks" and that non-technical teams in the company are "shipping production code,"

Non-technical teams are shipping production code? Oh boy this is going to be biblical isn't it?

Get ready for people losing all that was in their wallets.

[-] Hapankaali@lemmy.world 22 points 1 week ago

Get ready for people losing all that was in their wallets.

Sounds like every crypto firm.

[-] Teppa@lemmy.world 7 points 1 week ago* (last edited 1 week ago)

I just dont think anything can happen, because the majority of the keys are airgapped. The insurance then covers the online keys.

This is typical capitalism, dont maximize for quality when you can sidestep the repercussions.

[-] NekoKoneko@lemmy.world 6 points 1 week ago

I wouldn't underestimate the security holes that spaghetti AI code will create. Hackers have had a motivation to get creative solving those problems for a long time. E.g., a persistent logger or listener over an extended time to collect rarely used keys when they production cross the air gap, for a single catastrophic hack later?

Ultimately in a code-illiterate world, the code-literate hacker is king.

[-] Teppa@lemmy.world 1 points 1 week ago

Ya good point.

[-] pinball_wizard@lemmy.zip 2 points 1 week ago* (last edited 1 week ago)

Get ready for people losing all that was in their wallets.

Yes. Whoever is the last human working at CoinBase sure would sure have an interesting day, having to deal with all that unclaimed BitCoin after AI deletes all their records.

This'll be interesting.

[-] discocactus@lemmy.world 36 points 1 week ago

Not your keys not your crypto.

[-] pinball_wizard@lemmy.zip 5 points 1 week ago

Especially if their AI deletes their database in 9 seconds!

[-] arcine@jlai.lu 12 points 1 week ago

"Notorious Imbeciles do Imbecilic thing"

[-] pinball_wizard@lemmy.zip 11 points 1 week ago

This is a weird one, because (in my experience) CoinBase was already wildly incompetent, before this.

How can they sacrifice all of their competence on the alter of AI, if they have no competence to sacrifice? One can't re-delete the customer database after it has been deleted, if there wasn't a backup.

One could be left with no choice but to disappear with all that BitCoin, I suppose.

I'll be watching this with popcorn in hand.

[-] ParlimentOfDoom@piefed.zip 3 points 1 week ago

Chinese is already in violation of so many banking laws. But no one seems to want to hold them accountable. Their customers lose money from hackers all the time.

[-] mrmaplebar@fedia.io 8 points 1 week ago

AI crash gonna take crypto down with it. 🫣

[-] neukenindekeuken@sh.itjust.works 3 points 1 week ago

Itsthesamepicture.jpg

[-] Alberat@lemmy.world 8 points 1 week ago

it's a good thing they didn't lay off anyone important... just coinbase employees

[-] baggachipz@sh.itjust.works 6 points 1 week ago

Let me guess, they’re going to “become an ai company” soon. Now that the crypto grift is over, gotta pivot to the next one.

[-] iglou@programming.dev 5 points 1 week ago* (last edited 1 week ago)

Ah, so that's why their website told me I'm living at an address I haven't been at for years even though I already notified them years ago. And why their form refuses to change it.

[-] bagsy@lemmy.world 4 points 1 week ago

anyone still at coinbase after this has a responsibility of driving it into the ground with AI. do it for your fellow developers, do it for humans.

[-] zd9@lemmy.world -1 points 1 week ago

the first in many AI-native caused layoffs

[-] Tollana1234567@lemmy.today -1 points 1 week ago

still peddling crypto after sbf basically unravelled the PONZI scheme and everyone jumped shipped to next scheme, AI. people i know who invested alot in crypto all lost money on it, if you are not lucky on own bitcoins early one.

this post was submitted on 06 May 2026
170 points (98.3% liked)

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