U.S. bitcoin exchange Coinbase will cut its staff by about 18% due to the onset of crypto winter. Co-founder and CEO Brian Armstrong called it a “difficult decision. Armstrong noted that the company has more than quadrupled its staff in the past 18 months. Too rapid a growth has led to problems coordinating and integrating new team members, making the team less effective. Affected employees will be notified by personal messages. They will immediately be denied access to confidential customer information. Employees who leave Coinbase will be compensated at 14 weeks’ salary with bonuses for more than one year of service. Coinbase will also pay a four-month health insurance policy and provide assistance with future employment, including at portfolio companies in the venture capital division. According to CNBC, Coinbase has about 5,000 full-time employees. The layoffs will affect about 1,100 of them.