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.
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.
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.”
