Coinbase, the most valuable U.S. cryptocurrency company, has faced many internal complaints about discriminatory treatment, New York Times reports. In a report by Nathaniel titled, ‘Tokenized’: Inside Black Workers’ Struggles at the King of Crypto Start-Ups, he remarked; One by one, they left. Others fired. All Blacks. 

In reaction through a blog post, Coinbase said; 

I wanted to give you a heads-up that The New York Times is planning to publish a negative story about Coinbase in the next few days. The Times has told us they plan to publish the story in print on Sunday and online sometime before that.

During the investigation, a Coinbase spokesperson, Kim Milosevich, told the New York Times;

“the company does not tolerate racial, gender or any other forms of discrimination.” She is also quoted as saying, “All claims of discrimination are treated very seriously, investigated by both internal and third parties, and the appropriate action is taken.”

However, Coinbase CEO Brian Armstrong made headlines months ago, precisely September, in an open letter declaring Coinbase as an “apolitical” and “mission driven” company, saying there should not be social justice discussion in the company. Days after, about 14% of the employees left the firm. 

Okereke Chinweokwu

Okereke has a passion for researching blockchain and cryptocurrency. He enjoys creating long form educational content to inform others on the opportunities in this space.