Coinbase To Offer Special Package To Employees


Coinbase CEO Brian Armstrong sent his employees a letter telling them to get in line with a new company “culture shift,” offering those unwilling to do so a “generous separation package.”

Armstrong sent the letter, which CoinDesk obtained, to Coinbase employees on Wednesday, stating the time has come to have a “difficult conversation” over his recent clarification of Coinbase’s mission.

A person close to the situation and speaking under condition of anonymity confirmed the letter was real and said Coinbase recognized certain employees weren’t comfortable with the new direction.

Armstrong wrote that Coinbase had “an apolitical culture” in an open letter published Sunday that said the exchange would not engage in “broader societal issues” or entertain employee discussions about these issues.

Those employees unhappy with the new direction have been informed they can take up a separation package because “life is too short to work at a company that you are not excited about.”

The packages includes four months severance for employees who have been at the exchange less than three years or six months for longer-term employees.