Coinbase CEO’s Response to Employee Rant Backfires

Coinbase-CEO’s-Response-on-Employee-Rant-Backfires
  • Brian Armstrong is under fire for making his response public regarding a petition to remove Coinbase executives.
  • People alleged Armstrong’s move as not practicing what he preaches.
  • These executives include Surojit Chatterjee, Emilie Choi, and LJ Brock. 

Coinbase CEO Brian Armstrong received mixed reactions from the digital community after he replied against an employee’s petition to remove the company’s executives.

On June 10, Armstrong lashed out on Twitter, saying that the employee’s petition is “really dumb on multiple levels.”

Armstrong’s Twitter Thread

CNL has taken a screenshot of Armstrong’s replies in the event that Armstrong deletes the tweets.

Armstrong posted his replies to the petition where he explained his side.

However, Armstrong’s comments did not sit well with the community, with some accusing him of being a hypocrite. In detail, some pointed out the absurdity of Armstrong’s culture of praising in public and criticizing in private when he published his response in public.

To be fair, Armstrong urged the Coinbase employee to “work as part of the team to raise [the concern] along with proposed solutions.” However, many people have already seen the tweets and have sided with the employee rather than with Armstrong.

The Petition

For the uninitiated, some anonymous employees made a petition to remove some executives in a Vote of No Confidence. The employees pointed fingers at COO Emilie Choi, Chief Product Officer Surojit Chatterjee, and Chief People Officer LJ Brock.

According to the petitioners, these people were responsible for the following:

  1. The failure of the Coinbase NFT platform;
  2. The over-prioritization of certain products, which has led to a lack of focus on other important issues like infrastructure;
  3. Initiatives like the Dot Collector and the Performance review system that has led to a toxic workplace culture;
  4. Aggressively hiring for thousands of roles, despite the fact that it is an unsustainable plan and is contrary to the wisdom of the crypto industry;
  5. Not being able to output any higher or better quality products and services despite aggressively hiring more employees;
  6. Rescinding offers to new employees despite promising them that their offers would not be rescinded two weeks earlier, leading to a massive negative reception from the public and the industry at-large;
  7. The failure to communicate important ideas and plans to the rest of the company, such as the possibility of lay-offs and the plan to fix many technical debts; and
  8. A generally apathetic and sometimes condescending attitude from the CPO, COO, and Chief People Officer.

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Jesus covers news related to the crypto space in Asia and in Australia, although he follows the latest events in the US and Europe as well. He is most interested in the blockchain gaming and regulation aspects of the industry.