Large language models now generate between 95% and 100% of Coinbase’s code, according to Rob Witoff, Head of Platform at the exchange, in an interview with Cointelegraph. Every employee uses AI on a daily basis, and each engineer works with five to ten AI agents. Back in February, however, the company estimated that AI was involved in writing only 40% of its code.
“Collectively, our AI agents now perform work equivalent to that of 1,200 people. By 2030, that number could reach 100,000,” Witoff said.
How heavily Coinbase relies on AI depends on the task. The company builds internal prototypes entirely automatically. Its cryptographic core, however, remains in human hands: senior specialists analyze and review that code line by line, while AI tests it for vulnerabilities and verifies the underlying mathematics. Mission-critical systems are developed using a hybrid approach that combines both human expertise and AI.
Which Employees Remained After the Layoffs
The restructuring allowed Coinbase to transition to small teams of experienced specialists. Today, two or three people can complete work that previously required teams of ten or more. The changes followed the company's layoffs in May, when the exchange laid off 700 employees, representing 14% of its workforce. Junior employees were hit the hardest, while the layoffs also affected marketing, legal, customer support, and compliance teams.
CEO Brian Armstrong explained the decision in a letter to employees, saying that AI had dramatically accelerated productivity and that the company needed to return to the pace of its early startup days by putting AI at the center of its operations.
“Small, highly efficient teams need people with experience, intuition, sound judgment, and professional scars—people who know how to direct AI agents,” Witoff emphasized.