NYT Publishes Coinbase Story Concerning Racial Discrimination

By Abhimanyu Krishnan | News | 30 Nov 2020


On Nov. 27, The New York Times published a report detailing claims of racism at US exchange Coinbase. The story preempted a response from Coinbase CEO Brian Armstrong, who denied the allegations in a blog post published on Nov. 26.

  • NYT reporter Nathaniel Popper spoke to several current and former Coinbase employees, all African-American, about their experiences at the company
  • The 15 individuals, many of whom have since left the company, had spoken to the HR department about racist or discriminatory treatment; these employees had departed in late 2018 or early 2019
  • Stated discriminatory actions include exclusion from meetings and conversations, while one manager reportedly asked an employee whether she was “dealing drugs and carrying a gun”
  • A spokesperson from Coinbase said there had only been 3 official complaints concerning racism between 2018 and 2019; all of these complaints were found to be unsubstantiated
  • Coinbase has been on the receiving of a lot of criticism this year, including for an “apolitical stance” amidst Silicon Valley’s increasing political positioning
  • Over 60 employees have resigned since that blog post, perceiving the lack of a stance as a lack of concern

 

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Abhimanyu Krishnan
Abhimanyu Krishnan

Technophile, cryptocurrency enthusiast and journalist.


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