NY Times report alleges history of pay discrimination at Coinbase
“The pay disparities at Coinbase appear to be much larger than those in the tech industry as a whole," wrote the New York Times. San Francisco-based crypto exchange Coinbase may have had a problem with paying its employees fairly based on gender and race. According to a report from The New York Times journalist Nathaniel Popper, Coinbase paid salaried Black employees roughly 7% less than people in similar positions, based on payroll data from 2018. Across the company, this averaged out to a difference of $11,500. When factoring in the firm's stock options, the gap between white and Black....
Related News
The OCC is proposing a rule change that compels large U.S. banks to offer and provide fair access to financial services to anyone that wants them. The proposition seeks to clarify the obligation of large banks to provide fair access to financial services in a manner consistent with the Dodd-Frank Act’s mandate. Discrimination Against Disfavored Businesses The Dodd-Frank Act already recognizes a broad and longstanding anti-discrimination principle that individuals are entitled to be treated fairly by national banks. The Office of the Comptroller of the Currency’s (OCC) proposed....
Plaintiff alleges “deceptive ad campaign” cost Coinbase users millions of dollars. A Coinbase user has filed a class action lawsuit seeking $5 million in damages because of an allegedly misleading Dogecoin campaign.In the legal document, David Suski, the plaintiff, said he was deceived into trading $100 of Dogecoin (DOGE) for an entry into a $1.2 million sweepstakes offer on Coinbase. The document claims that Coinbase failed to communicate that a person could enter the sweepstakes without purchasing $100 of Dogecoin.The first day Dogecoin was available for trade on Coinbase, June 3, 2021,....
An Australian bitcoin trader has filed a lawsuit against two of the country’s biggest commercial banks, accusing them of systematic discrimination when they closed his accounts on short notice. Allan Flynn is demanding compensation of AU$250,000 ($193,000) from ANZ and Westpac banks for closing his accounts immediately after they had been opened, the Australian Financial Review reported on Jan. 18. Flynn, who operates a registered bitcoin (BTC) exchange, has started proceedings against both banks at the ACT Civil and Administrative Tribunal. The trader alleges he is the victim of....
Allan Flynn won a settlement with ANZ for debanking him and is headed to the tribunal to take on Westpac next week. Bitcoiner Allan Flynn has settled his first complaint with the Australia and New Zealand Banking Group (ANZ) over being unilaterally debanked in 2018 due to his occupation as a Digital Currency Exchange (DCE). The settlement comes 20 months after the Canberra resident first filed complaints with the ACT Civil and Administrative Tribunal against ANZ.In the settlement, the ANZ noted that it closed his accounts due to the risk of money laundering and terrorism funding (ML/TF)....
Black and LBGTQ Americans are more than twice as likely to invest in crypto than White Americans. A survey provided to USA Today by Harris Poll has found that Black, Hispanic, and LGBTQ Americans are significantly more likely to own crypto assets.According to surveys of 2,010 and 2,003 U.S adults conducted during June and July, 23% of Black Americans and 17% of Hispanic Americans indicated they are currently invested in digital assets, compared to only 11% of white Americans, and 13% of the general public. 25% of LGBTQ respondents also said they hold crypto.Cryptocurrency awareness is also....