The New York Times has published a report highlighting racial discrimination of employees at Coinbase. The report is based on commentaries from 23 current and former employees of Coinbase and its continuous discriminatory attitude towards its minority employees. The article showcases several incidents indicating racial discriminatory practices around the hiring and promotion of its Black employees.
Racial Discrimination of Coinbase Employees
The NYT report claimed that at least 11 of its former employees had reported discriminatory practices to the HR department. A total of 23 of its employees reported mistreatment including 15 of the employees being fired or leaving the company since 2018 and earlier. It went on to further add that Black employees were mistreated and excluded from the crypto firm.
Journalist Nathaniel Popper also highlighted that Coinbase employs only a few minorities in its workplace. As per the journalist, the firm has only half of the Black workers in comparison to an average tech company.
Coinbase who was aware of the New York Times publishing potential negative stories had already published an email to its employees. It then published it as a blogpost a day before the publication of the NYT article. It wanted to alert its current employees and customers to an upcoming negative story.
Coinbase Says Employees are First Priority
Coinbase claims that it doesn’t matter what the media publication views of them as its employees are its first priority. Coinbase further added that only three complaints were brought to the notice of the HR department, compared to NYT’s claim of 11 employees contacting the management at Coinbase.
Meanwhile, Coinbase took an apolitical stance over various discussions including on the death of George Floyd and the Black Lives Matter movement. In September, the crypto exchange company restricted its political activity in the workplace. This led 60 of its employees to quit and accept severance packages as per the company’s rule.