Coinbase staff told to wait an hour to discover if they were fired
According to an SEC filing, the cuts will leave Coinbase with around 5,000 remaining staff and will cost somewhere in the region of $40 million.
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According to an SEC filing, the cuts will leave Coinbase with around 5,000 remaining staff and will cost somewhere in the region of $40 million.
Many applicants turned down other opportunities after confirming a job at Coinbase, others are facing losing their visas.
— Coinbase
Coinbase staff will be encouraged to give positive, neutral, or negative feedback based on 10 core values after every interaction.
Armstrong admitted that, while Coinbase's Prime and Custody customers had "strong legal protections in their terms of service," retail customers didn't.
Last week the American crypto exchange saw its share price drop into double digits for the first time when it sank to just over $84.
The platform had a waiting list of 3 million people but fell flat with fewer than 150 transactions on launch day.
Coinbase chief Brian Armstrong apologized to Gavin Andresen after the former Bitcoin dev complained about demands for bank statements.
Coinbase's chief counsel cited its geoblocking of Crimea while defending the exchange's decision not to ban Russia-based users.
Coinbase wants a slice of the $700 billion remittance industry by encouraging Mexicans to use its stablecoin USDC instead of Pesos.
Brian Armstrong may prefer politics kept out of his offices but Coinbase obviously enjoys throwing its political weight around.