A viral social media post has claimed that Coinbase is “selling H-1B visas” and replacing American workers with foreign hires after the company announced layoffs. However, a closer look at available evidence shows that the claim is misleading and lacks a factual basis.
The claims follow an internal email by Coinbase CEO Brian Armstrong confirming that the company would reduce its workforce by about 14%, citing market conditions and the growing impact of artificial intelligence on operations.
Read more: Ex-Coinbase agent arrested in India, CEO Brian Armstrong thanks Hyderabad Police
What does the viral claim say?
The viral posts allege that Coinbase is “selling H-1B visas” through its platform and simultaneously replacing US workers with foreign hires. The claim references the company’s past H-1B visa filings and suggests a connection between layoffs and immigration practices.
However, there is no credible evidence that Coinbase or any company can legally “sell” H-1B visas.
The United States Citizenship and Immigration Services administers the H-1B visa programme. According to the USCIS guidelines, it allows US employers to sponsor foreign workers in specialised occupations through a regulated process. Employers must file petitions, meet wage requirements, and comply with strict federal guidelines.
{{/usCountry}}The United States Citizenship and Immigration Services administers the H-1B visa programme. According to the USCIS guidelines, it allows US employers to sponsor foreign workers in specialised occupations through a regulated process. Employers must file petitions, meet wage requirements, and comply with strict federal guidelines.
{{/usCountry}}The USCIS guidelines also state that employers must file Form I-129 and receive approval before a worker can be employed. Hence, H-1B visas are not tradable assets.
Read more: Coinbase joins ‘Dexit’ trend: Why crypto exchange is ditching Delaware for Texas
Why is the claim misleading?
The viral post is trailed by another link that leads to Coinbase's cryptocurrency chart. The post states, “I find it very odd that they’re selling an H-1B visa coin and also replacing Americans with H-1B foreigners. Coinbase is the H-1B crypto exchange.”
The post appears to conflate three separate topics: layoffs, H-1B visa usage and a reference to a so-called “H-1B coin.” There is no verified evidence that Coinbase is offering a product tied to visa sponsorship or immigration benefits.
A thorough look at the website proves that no page offers the option to “buy” an H-1B visa on Coinbase.
Coinbase announces lay-offs
In his message to employees, Armstrong attributed the layoffs to two primary factors:
1. Market volatility in the cryptocurrency
2. Rapid changes driven by AI technologies.
He emphasised that the company is restructuring to become “leaner, faster, and more efficient,” with a focus on AI-driven workflows.
The email outlines organisational changes such as reducing management layers, increasing individual contributor roles, and building “AI-native” teams. It does not reference immigration policies or plans to replace domestic workers with H-1B employees.
The publicly shared email does, however, state, “To those affected, we will be providing a comprehensive package to support you through this transition. US employees will receive a minimum of 16 weeks base pay (plus 2 weeks per year worked), their next equity vest, and 6 months of COBRA.”
Armstrong further clarified, “Employees on a work visa will get extra transition support. Those outside of the US will receive similar support, based on local factors and subject to any consultation requirements.”