Photograph: Christie Hemm KLOK/The Washington Post/Getty Images
A few months ago, the cryptosphere was up in arms for the apolitical stance Coinbase took in the face of pressure to take a stance on #BLM and other social issues. A recent story from the New York Times may shed light on why that may be the case. According to The New York Times report, Black and Women employees were paid less than their White counterparts. Payroll data uncovered Black employees at Coinbase were paid almost $11,500 or 7% less than non-Black employees serving in similar roles. When accounting for stock options, the pay difference was closer to 11%. Women at the San Francisco firm were paid almost $13,000 or 8% less than their male team members. According to the report, the pay disparities at Coinbase are among the worst in the industry:
Source: The NY Times
The apolitical stance in October now coupled with the inequities in compensation are leading people to suspect that this is indicative of Coinbase's values. "Black lives don't matter to Coinbase" and "women don't deserve to get paid the same as their White male counterparts," may be a stretch but the payroll data speaks volumes and Coinbase will need to do significantly more than the typical performative gesture of corporate wokeness to counter these growing suspicions.