Cryptocurrency exchange Coinbase had internal emails leaked to the press on the note of politics in the workplace and the company’s neutral stance on political issues and causes. Coinbase CEO Brian Armstrong had published a blog post making it clear that the company does not engage in political issues on social media and instead opts to focus on profit and work-related issues. You can read Armstrong’s full blog post here.
In the days following the publishing of this blog post, the company sent out an email to staff offering them a massive severance package if they found this decision to be disagreeable. More from The Block:
Coinbase CEO Brian Armstrong, who penned the controversial blog outlining why the exchange will mainly focus on its crypto mission versus social activism, said that it would provide employees with a package to leave the firm if they don’t “feel comfortable with the new direction,” according to an internal company email reviewed by The Block.
In the blog post released Sunday, Armstrong explained why the firm should be “laser-focused” on its mission to build an open financial system while focusing “minimally” on broader societal issues and political causes. The message was met with a cacophony of both support and opposition from the crypto world and beyond. Some praised the former Airbnb engineer for attempting to cultivate an ideologically inclusive environment. Others argued that the tone of the piece was cold and out of touch.
As for the severance package, Armstrong is offering employees keen on leaving as much as six months of severance and a potential seven-year option exercise window.
Ironically those who this severance package was targeted towards are likely the same people who caused the need for the original blog post to be written and leaked the email to the press. American politics have become an extremely toxic part of any work environment and threaten to tear a company apart if the wrong landmine is stepped on. Silicon Valley has been hit especially hard by political discussion in recent years, many feel that having the wrong beliefs in the workplace will result in their termination.