Coinbase is pulling the plug on a project to upgrade its platform, and it could result in a multi-million dollar loss

Quick Take

  • Crypto exchange Coinbase is scrapping its efforts to build a new matching engine, laying off nearly 30 engineers in its year-old Chicago office
  • The firm will instead focus on bolstering its existing matching engine from its San Francisco base
After a year of hype and key hires, Coinbase announced Tuesday it has cancelled plans to build a new matching engine in Chicago. The cancellation of the firm’s migration to a matching engine built for Wall Street means 30 employees were laid off this morning, a stunning move given the firm was telling clients it […]

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