Coinbase loses 5% of staff over ‘apolitical mission’

Some of Coinbase’s staff did not embrace the new mission set out earlier by CEO Brian Armstrong. He said 60 people submitted letters of resignation.

In Armstrong’s blog, he stated that headcount declined by about 5%. The figure could rise if the company does not come to terms with a few more employees. The CEO thanked those who remained at Coinbase for ‘trust and commitment’ to the mission.

In Armstrong’s statement, he emphasised that some misunderstood the concept of the new policy. He said the company continues to discuss political issues related to the cryptocurrency industry, and also advocates a cordial working environment for all.

“While letting team members go is never easy, I think this situation will bring us closer together,” Armstrong wrote.

Earlier Coinbase declined to participate in discussions on political and social topics if they do not touch the cryptocurrency industry. For those who disagreed with this decision, the CEO suggested to resign.

Earlier, Twitter founder Jack Dorsey criticised Armstrong. In his view, Coinbase cannot turn a blind eye to social issues that its customers face daily.

Follow ForkLog news on VK!