Sixty employees of Coinbase take out a buyout offer on the “no politics” rule

Sixty employees of Coinbase take out a buyout offer on the
Enlarge / Coinbase CEO Brian Armstrong.

Steven Ferdman / Getty Images

Coin Coinbase employees have accepted a buyout offer after CEO Brian Armstrong announced a controversial new policy curbing political activism within the company. Armstrong released the figure Email on Thursday Employees.

Armstrong Announced a new policy After last summer when many tech companies g companies faced pressure from their employees to become more clear on social justice issues.

“While I believe these efforts are well-intentioned, they have the potential to destroy a lot of value, due to the constraints they have on most companies and by internal divisions.” Armstrong wrote In a September 27 blog post. “We’ve seen what internal conflict in companies like Google and Facebook can do for productivity. I believe most employees don’t want to work in this divisive environment.”

The post has sparked a backlash among liberals on Twitter, but Armstrong is not backing down. To show that it is serious, Armstrong offered a generous scattering package to Synbase employees – four to six months’ salary – if they were not comfortable with the new policy.

Armstrong, “Life is too short to work for a company you’re not excited about.” Wrote.

Now Armstrong says 60 employees accepted the package. Armstrong says it’s about 5 percent of the company’s headcount. Yet some more employees are in discussions with the company and may accept it in the coming days.

Armstrong wrote, “For those of you who have decided to move forward, I thank you for your contribution to Cinbase and we wish you all the very best.” “And for those of you who are choosing the next chapter, I thank you for your faith and commitment to this mission.”

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Armstrong said a “disproportionate number of people from” under-represented groups “at Sinbase did not accept the buyout offer. Armstrong said they are “committed to creating a diverse, all-encompassing environment where everyone feels like they belong.”

And while Siknabase is discouraging most political advocates, Armstrong admits one exception: that cryptocurrency itself is “inherently political.” Armstrong wrote that he “is okay about being political about this particular area because it relates to our mission.”


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