Economy

Sixty Coin employees take the purchase offer above the “no politics” rule

Zoom in / Coinbase CEO Brian Armstrong.

Steven Fertman / Getty Images

Sixty Goenbase employees accepted the acquisition offer after CEO Brian Armstrong announced a controversial new policy restricting political activity within the company. Armstrong revealed a statistic Email on Thursday To staff.

Armstrong Announced the new policy After a summer last week, many tech companies faced pressure from their employees to talk more about social justice issues.

“While I think these efforts are well-intentioned, they have the potential to destroy a lot of value by creating distraction and internal division in most companies.” Armstrong wrote In a September 27 blog post. “We ‘ve seen what companies like Google and Facebook can do to internal conflicts productivity. I believe most employees do not want to work in this divisive environment.”

This post provoked a backlash among liberals on Twitter, but Armstrong did not back down. To show that he was serious, Armstrong offered Goenbase employees a generously split package — four to six months’ salary if they were not comfortable with the new policy.

“Life is too short to work in a company where you are not excited,” Armstrong said Wrote.

Now, according to Armstrong, 60 employees have accepted the package. Armstrong says this is 5 percent of the company’s leadership. Some more employees are still in discussion with the company and may accept it in the coming days.

“For those of you who have decided to move forward, I would like to thank you for your contributions to Coinbase. We wish you all the best,” Armstrong wrote. “I would like to thank all of you who choose the next chapter for your faith and commitment to this work.”

Armstrong said the “low representation group” on Coinbase did not accept the purchase offer in large numbers. Armstrong said, “We are committed to building a different, all-inclusive environment in which everyone thinks they belong.”

While Coinbase encouraged most political arguments, Armstrong acknowledged one exception: that cryptocurrency is “politically inherent.” Armstrong wrote, “It’s okay to do politics about this particular area because it’s relevant to our mission.

Thelma Binder

"Explorer. Devoted travel specialist. Web expert. Organizer. Social media geek. Coffee enthusiast. Extreme troublemaker. Food trailblazer. Total bacon buff."

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