- Chief Product Officer of cryptocurrency exchange Coinbase Resigns Amid Restructuring.
- Over 60 Coinbase workers have recently accepted departure packages since September.
- Politics causes internal conflict and detracts from the business: Brian Armstrong.
Surojit Chatterjee, the chief product officer of cryptocurrency exchange Coinbase (COIN), resigned after the business reorganized its product, engineering, and design teams.
According to a Securities and Exchange Commission filing, Chatterjee’s retirement was “mutually agreed” upon. He will however continue to assist Coinbase in an advising capacity at least through February 3, 2023. According to his LinkedIn page, Chatterjee worked with Coinbase for approximately three years.
After an incredible run that began in February 2020, I’ve decided to leave my current role as Chief Product Officer at Coinbase. Although this is certainly the end of a chapter, I’m looking forward to continuing to help Coinbase grow by serving as an adviser to the company’s co-founder and CEO, Brian Armstrong.
Surojit Chatterjee.
Over 60 Coinbase workers have recently accepted departure packages. This comes after the company’s CEO, Brian Armstrong, said in a controversial blog post in September that it would not engage in social action.
Armstrong’s blog post sparked a heated discussion about politics in Silicon Valley businesses. According to Armstrong, politics causes internal conflict and detracts from the business.
However, a lot of detractors remarked on how ironic it was that a cryptocurrency corporation, whose goal is intrinsically political, resisted upsetting the established order. Recently, Google and Facebook have also made efforts to limit internal discussions on contentious political matters.
According to Armstrong, fewer employees from underrepresented groups accepted the departure package than the general population.
This summer, when Coinbase refused to issue a statement endorsing Black Lives Matter, employees also virtually staged a walkout According to Wired, this sparked internal discussion over the company’s politics.
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