✂️ Coinbase Cuts 14% of it’s Staff

Coinbase is reducing its workforce by roughly 14% as CEO Brian Armstrong cites a sluggish market environment and massive internal productivity gains driven by artificial intelligence. Armstrong highlighted that AI is enabling developers to ship code exponentially faster, prompting a strategic corporate pivot toward hiring AI-native talent capable of managing fleets of automated agents in ultra lean, one person product teams.

🐳 Bitmine Stakes $10B in ETH

Bitmine has expanded its aggressive accumulation strategy, purchasing an additional 101,745 ETH to bring its total treasury to 5.18 million tokens, representing 4.3% of the global supply. The firm now actively stakes over $10.2 billion worth of Ether, generating approximately $297 million in annualized revenue.

📉 Strategy Considers Breaking Never Sell Vow to Fund Dividends

In a reversal of his famous never sell mantra, Michael Saylor revealed during Strategy's Q1 2026 earnings call that the company may liquidate a portion of its Bitcoin holdings to fund its massive $1.5 billion annual dividend obligations. The potential sale is primarily driven by the heavy 11.5% yield on the firm's STRC perpetual preferred stock, which currently leaves the treasury with just 18 months of dividend coverage based on existing cash reserves.

⚖️ World Liberty Financial Countersues Justin Sun

The legal battle between Justin Sun and World Liberty Financial has escalated into a defamation countersuit. Following Sun's mid April lawsuit accusing the project of extortion and using a backdoor function to wrongfully freeze his WLFI tokens, World Liberty Financial is now striking back. The project alleges Sun orchestrated a scorched-earth social media smear campaign, utilizing bots and influencers while simultaneously shorting the token to maliciously tank its price.