Coinbase CEO Addresses Allegations of Racial Discrimination in Response to Upcoming NYT Story

By Abhimanyu Krishnan | News | 26 Nov 2020

On Nov. 26, Coinbase CEO Brian Armstrong preemptively published a response to an upcoming New York Times story about incidents of racial discrimiantion at the company.

  • The New York Times is expected to publish a negative story on Coinbase and alleged incidents of racial discrimination within the next few days
  • NYT reporter Nathaniel Popper has been contracting current and former employees at the exchange to learn about the treatment of black employees
  • Reportedly, the story will have statements from three black employees and a contractor who no longer work at Coinbase, as well as other individuals; it will also cite internal documents and Slack messages
  • Armstrong says that the story will likely imply that black employees were discriminated against Compliance and CX orgs during 2018
  • He also says that the complaints that the story refers to have been handled, with no evidence of wrongdoing found
  • On the whole, Armstrong says that the “story will paint an inaccurate picture”, while also noting that it will “recount episodes that will be difficult for employees to read”
  • Coinbase has suffered from negative PR incidents in 2020 -- including when Armstrong said the company would take an apolitical stance and for retweeting an article about Kanye West

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Abhimanyu Krishnan
Abhimanyu Krishnan

Technophile, cryptocurrency enthusiast and journalist.


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