Coinbase hemorrhages employees following controversial culture stance

After a change in company policy, popular U.S.-based crypto exchange Coinbase has seen backlash, as some of the company’s employees disagreed with the changes. 

“We subsequently decided to make a generous exit package available to any employee who didn’t feel they could be on board with this direction,” Coinbase CEO Brian Armstrong said in a blog post on Oct. 8. The CEO sent his staff an email on this situation, which he pasted into the blog post explanation. 

The pasted email content included that approximately 60 of the exchange’s staffers have left the company. 

In his clarifications to staff, Armstrong noted that employees should not have to pretend that politics don’t exist, and that crypto is an inherently political industry. However, he declared that “Yes, we are ok being political about this one particular area because it relates to our mission.”

This story is in progress and will be updated.

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