The numbers circulating through fintech right now are hard to ignore. Almost 10,000 jobs have been cut across the global sector in 2026 so far. PayPal is eliminating roughly 20% of its workforce. Block has shrunk to fewer than 6,000 employees, and Coinbase cut 14% of its headcount.
And hovering over all of it is a single explanation, repeated so often that it starts to remind us of a dot-com bubble — artificial intelligence. But is that actually what's happening? And more importantly, does it matter if the story isn't entirely true?
