Coinbase will lay off 18 percent of its workforce amid plummeting cryptocurrency prices and a global economic slowdown, the company announced Tuesday. CEO Brian Armstrong told employees in a memo that the crypto exchange needs to keep costs down to survive a bear market, which requires a “different mindset” to navigate. “We appear to be entering a recession after a 10+ year economic boom,” he wrote. “A recession could lead to another crypto winter, and could last for an extended period. In past crypto winters, trading revenue (our largest revenue source) has declined significantly.” The announcement comes after cryptocurrencies took a beating to start the week. Bitcoin has plun
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