New York Times Pans Coinbase’s Race Policies

Key Takeaways

  • The New York Times published a critical piece on Coinbase’s handling of Black employees.
  • It alleges that Black employees were discriminated against and excluded by the exchange company.
  • Coinbase contested those allegations in an internal notice, which it also released to the public.

Share this article

The New York Times published a piece today denouncing Coinbase’s handling of Black workers today, reigniting a controversy that has been underway since September.

New York Times Denounces Coinbase

The New York Times reports that 23 of Coinbase’s Black employees have reported discrimination over the past several years. It says that 15 of those employees left the company or were fired over issues dating back to 2018 and earlier.

Furthermore, a tipping point occurred when Coinbase attempted to position itself as an apolitical company this year. In June, discussions around the killing of George Floyd and Black Lives Matter protests became heated. By September, Coinbase decided to restrict political activity in the workplace. That decision led 60 Coinbase employees to quit and accept severance packages.

The New York Times also suggests that Coinbase employs too few minority workers. It says that the firm has half as many Black employees as the average tech company does. However, this appears to be a complaint advanced by a third party expert rather than Coinbase’s employees themselves.

SIMETRI gains of 484%

Coinbase Responds to Controversy

Coinbase preempted the New York Times’ comments on Wednesday by publishing a blog post that contests the accuracy of the article.

Most notably, Coinbase insists that only three complaints were made while the relevant employees were employed. By contrast, the New York Times says that 11 employees contacted Coinbase’s HR and management. Coinbase also says that internal investigations found those complaints to be “unsubstantiated.”

Oddly, Coinbase did not release a public statement on the matter. Rather, it composed a private…

Read More