European markets are heading for a higher open as investors gear up for key inflation data this week, with U.S. consumer price data for December due Thursday.
after the crypto exchange operator announced plans to slash 20% of its workforceThe layoffs will impact 950 jobs and marks the second round of cuts from the company in recent months. Coinbase laid off 18% of its workforce in June in preparation for a potential recession and crypto winter, saying that it had grown "too quickly" during the bull market.
Crypto markets have come under pressure following the collapse of FTX, one of the industry's largest operators. Coinbase said the new round of layoffs will bring down its operating expenses by 25% for the quarter ending in March, according to a new regulatory filing.European markets are heading for a higher open as investors gear up for more inflation data later this week, with U.S. consumer price data for December due Thursday.
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