Coinbase CEO Slammed Employee Petition To Remove Executives

The Coinbase CEO slammed an employee petition that aimed to remove the executives of the platform amid the underwhelming launch of the NFT platform and many other missteps as we can see in today’s latest Coinbase news.

Brian Armstrong as the Coinbase CEO slammed the online employee competition and called it “Really dumb on multiple levels.” The petition was made public on Friday and called to remove the COO Emilie Choi as the Chief Product Officer Surojit Chatterjee and the chief People Officer LJ Brock in a vote of no confidence from the biggest exchange. The petition was deleted but it was saved on the internet archive website Wayback Machine and listed eight reasons for the vote of no confidence like the failure of the NFT platform and hiring aggressively despite the fact that it was unsustainable and created a toxic workplace culture. He said:

“First of all, if you want to do a vote of no confidence, you should do it on me and not blame the execs. Who do you think is running this company?”

1/ This is really dumb on multiple levelshttps://t.co/k6fATRXvHn

— Brian Armstrong – barmstrong.eth (@brian_armstrong) June 10, 2022

He added that the person making the petition would be fired and urged disgruntled employees to quit and to look for another company to work at. Coinbase is the biggest BTC exchange in the US and made itself the closest thing to a household name as the first option for traders to buy crypto. But coinbase also was the subject of controversy and negativity because of the recent crypto winter. However, it also went public in 2021 via a direct listing, and right after, its shares dropped 76% in 2022, down by 82% from the debut price.

The excitement around the NFT market dampened after the slow start and finally, the company didn’t help its reputation when it rescinded job offers amid the crypto crash but it did set up a database to help these folks find other opportunities in the industry.

Coinbase will create database for people that it was about to employ but it didn’t after the hiring freeze including the rescinding of job offers.
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The Talent Hub represents a list of people affected by the developments at Coinbase so now, a former Coinbase candidate can self-submit their name, current company, and contact information.