Coinbase on Defense As NYT Report Alleging Racial Discrimination Goes Live

Source: Coinbase

Big crypto exchange in the US yesterday Coinbase warned a damning report in the New York Times and today in the major news agency released The article states that 15 former Coinbase employees who either left or were fired from the company have one thing in common: they were all black.

Coinbase has 600 employees, 3% of whom are black, according to the Times report. Nearly a dozen of the above sub-groups reportedly told Human Resources that they had been “treated in a racist or discriminatory manner” and quoted five unknown people with knowledge of the situation. The Times story also shows Coinbase’s reaction to the Black Lives Matter movement, which reportedly made employees “disappointed” by CEO Brian Armstrong’s silence.

Armstrong is on the defense calling all allegations of discrimination “false”. Coinbase claims that “only three” of the 11 people named in the article actually made official complaints during their tenure. One of them was Layllen Sawyerr, who is black and left Coinbase in 2018. Sawyerr told the Times:

“It was the first time I realized what racism feels like in the modern world. I felt like I was bullied at work every day. ”

Coinbase reportedly found that Sawyerr’s complaint was “unfounded”.

Among the complaints documented in the NYT article, the company’s former recruiter Alysa Butler said she felt “invisible” and was excluded from important discussions. She made it clear to her superior.

“Most people of color who work in technology know that there is a problem with diversity. But I’ve never seen anything like Coinbase, ”Butler, who left the company in April 2019, told the Times.

Coinbase reportedly told the Times that there is no record of Ms. Butler’s official complaint.

The exchange went on to say that the complaints submitted had been “thoroughly investigated” by both an internal investigation and external parties, which revealed “no evidence of wrongdoing”. As a result, Coinbase said it made it clear to the NYT that the claims were “unfounded”.

Overall, Coinbase appears to be taking the bad press by its chin, claiming that they “take any allegations of inappropriate workplace behavior seriously” and “do not tolerate harassment or discrimination.” Given the recent attention Bitcoin (BTC) has received, the Coinbase management team also predicts that as the company grows, there will be both more and less media coverage, both positively and negatively.

“As Brian shared with ColorBlock ERG this morning, we don’t care what the New York Times thinks. The most important thing that is important to us is you, our employees and your opinion, ”said the company.

Cryptonews.com has contacted Coinbase with a comment request and will update this article if a response comes in.
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