The cryptocurrency exchange Coinbase has reached an impressive milestone in development automation: over 95% of the platform's entire software code is now generated using artificial intelligence. This figure has more than doubled since February, when the share of AI involvement was estimated at 40%. As stated by the platform's head, Rob Witoff, neural networks are now involved in the daily work of 100% of the exchange's employees.
The degree of AI implementation varies depending on the complexity of the tasks. Prototyping is fully automated, core systems are developed using a hybrid model, but cryptography remains a human prerogative — developers manually check every line of code, while AI helps identify vulnerabilities and verify mathematical calculations.
This step is part of the strategy of Coinbase CEO Brian Armstrong, who announced in May the layoff of 700 employees (14% of the workforce), explaining this as a need to restore the company's "startup speed and focus." The implementation of AI has radically changed team structures: now groups of 2-3 senior specialists handle tasks that previously required 10 or more people. The cuts primarily affected junior developers, as well as employees in marketing, support, and compliance.
The numbers speak for themselves: each Coinbase engineer now has between 5 and 10 active AI agents. Collectively, they perform a volume of work equivalent to that of 1,200 employees. The company expects this figure to grow to 100,000 virtual workers by 2030.
This is not an isolated case. In April, the Snap team announced replacing 1,000 employees with neural networks to save $500 million, and in May, Dune announced a restructuring and a 25% reduction in staff. The trend is clear: the industry is moving toward a model where AI is not just a tool but a full-fledged partner in development.
My analysis: Coinbase demonstrates that AI is no longer just an assistant but a key driver of efficiency. However, full automation of critically important systems, such as cryptography, is not yet possible — this creates a "bottleneck" for scaling. In the long term, we will see how companies balance development speed and security, and Coinbase here is just the first swallow.