Just last month, Coinbase announced it would cut its workforce by 18%—1,100 employees—in preparation an “extended” crypto winter.
The company also was criticized after it rescinded numerous job offers it promised would not be rescinded. (Coinbase later set up a database to help those would-be employees find other employment.)
“During market downturns, the temptation can be to shy away from international expansion,” said the Friday blog post. “We first entered the UK and EU during the bear market in 2015, a move that paid off significantly during the bull run a few years from then. We’ll keep building around the world, and doing everything we can to grow the cryptoeconomy.”