Crypto Exchange “Coinbase” Accused Of Racism

coinbase racism

According to a report published by The New York Times, several former employees of the crypto exchange Coinbase complained of “racist and discriminatory” treatment.

The report, released Friday by journalist Nathaniel Popper, was confirmed by Coinbase’s current 23 employees and 11 former employees.

Coinbase has been struggling with black employees for a long time.

Coinbase Denies Report Shared By The New York Times Before It Is Published
Before the news was published by NYT, Coinbase announced in an email to its employees that the NYT will publish a negative news about Coinbase in a few days.

In the statement, it was stated that we want to give a warning to everyone, given that this story, which is planned to be shared, can be read by your friends, family and professional connections.

According to the NYT report, the company pursues racist stereotypes and discriminates in the recruitment and promotion of black employees. The Times stated that at least 11 former Coinbase employees have contacted the human resources department and managers about such incidents.

“Nowhere Did I See The Discrimination In Coinbase”
Alysa Butler, a former Coinbase employee mentioned in Popper’s article, expressed the discrimination she experienced at the company as follows;

Many blacks working in tech companies face some problems, but I have never seen any kind of discrimination like Coinbase.

Coinbase spokesperson Kim Milosevich told the New York Times that the company does not tolerate race, gender, or other forms of discrimination. He also stated that all allegations of discrimination were taken unnecessarily seriously, and that every precaution was taken in this regard.

Coinbase, a cryptocurrency exchange worth $ 8 billion, made headlines in September with CEO Brian Armstrong’s company policy saying “We will be apolitical, don’t want to go”. Days later, the company offered a severance package for all employees who were uncomfortable with Armstrong’s mission statement. As of October 14, 5% of Coinbase employees left the company.

Coinbase stands out as one of the most valuable and publicly traded exchanges in the crypto money market.

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