5% of Coinbase Employees Take Severance Offer Over ‘Apolitical’ Stance

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.

Coinbase will offer non-aligned employees a severance package while Bitcoin backers gain a way to crowdsource development.

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’s new “apolitical” culture has led to some employees taking severance packages, as the crypto community reacts with ambivalence. America’s largest cryptocurrency exchange, Coinbase, made headlines over the past few weeks for an internal culture change that effectively told employees that there will be no space for social activism within its walls. Furthermore, a recently leaked audio apparently reveals that most employees approve of the new direction.The “apolitical” stance that is being adopted by the company was announced by CEO Brian Armstrong in a published post on the....

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.