Coinbase Offers Severance Package to Employees Unsatisfied With ‘Apolitical’ ...
Coinbase's CEO has issued a company-wide letter informing employees to get in line with a new cultural shift or take a severance package.
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Sixty of Coinbase’s 1,200 employees have accepted the exit package offered by CEO Brian Armstrong, according to a memo obtained by CoinDesk.
In a LinkedIn post, Vice President of Business and Data Dan Yoo announced he is leaving the company after CEO Brian Armstrong's blog post saying the company was moving in an ‘apolitical’ direction and later offered a severance package for employees who disagreed.
Coinbase will offer non-aligned employees a severance package while Bitcoin backers gain a way to crowdsource development.
Coinbase CEO Brian Armstrong publishes further details about his company's changing landscape. After adjustments to company policies, popular U.S.-based crypto exchange Coinbase has seen backlash from employees who disagreed with the changes. Coinbase received national attention for a recent change to its policies, which required employees to avoid political and social distractions, and instead focus on its core mission of building "an open financial system for the world". Multiple commentators, including Jack Dorsey of Twitter, found the new direction to be at odds with the cryptocurrency....
CEO Brian Armstrong and other managers at the San Francisco-based crypto exchange told employees in company- wide meetings that Armstrong had been planning this move for six months.