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26 October 2020

The curious case of Coinbase — employees driven out by ‘apolitical’ stance

The curious case of Coinbase — employees driven out by ‘apolitical’ stance

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The CEO then highlighted his belief that allowing employees to spend time on social activism and other causes would hamper the company’s goals to build its own capacity, products and services.

Furthermore, according to the CEO, “most employees don’t want to work in these divisive environments.” He further stated that employees “want the workplace to be a refuge from the division that is increasingly present in the world.” Thus, Armstrong made it clear that Coinbase would focus minimally on causes not directly related to the mission, which include policy decisions, nonprofit work, broader societal issues and political causes.

Employees who worked at Coinbase for more than three years would be up for a six-month payment package.

The number accounted for 5% of Coinbase’s employee numbers, while the CEO also stated that more employees had expressed interest in leaving8

Clem Freeman, a software engineer at Coinbase, also publicly announced that he would be leaving the company on Twitter, saying he disagreed with “some of the changes made recently by leadership.”.

Coinbase’s apolitical stance also drew derision from Twitter CEO Jack Dorsey, who highlighted his belief that Bitcoin acts as “direct activism” against an “unverifiable and exclusionary financial system” and that Coinbase had seemingly failed to recognize societal issues linked to its own customers’ use of the platform.

The company drew further criticism after audio from an internal meeting was leaked to Motherboard,in which it is alleged that Coinbase was accused of 'stunting internal discussion' and forcing employees to delete political messages on the company's Slack group.

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