Politics, Business, Technology

October 09, 2020

Coinbase loses 5% of workforce over apolitical stance

Source: Flickr (Coindesk) 
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The Gist

One of the largest cryptocurrency companies has lost more than 60 employees after declaring it would not participate in social activism. 

The List

  • A blog post by Coinbase in late September clarified that Coinbase is a "mission focused" company that will not partake in political activism. 
  • This was in response to calls for the company to side with the Black Lives Matter movement. 
  • Critics including Twitter CEO Jack Dorsey opposed the declaration, claiming that cryptocurrency is inherently political. 
  • Coinbase offered severance packages to all employees which did not share the same vision.
  • So far over 60 employees have accepted the offer and have left Coinbase. 

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