It looks bad now, but really, when those contracts were signed (and paid for), layoffs seemed like an impossibility. And once those were deals are finalized, it’s not something that you can really pull back from. Sadly, all it serves to do now is remind potential customers of how bad things are right now for Crypto.

It a bad look, and I feel for everyone affected by the layoffs. But this isn’t a decision Coinbase made two weeks ago.