- Coinbase CEO Brian Armstrong told employees in an email Wednesday that anyone unhappy with his policy forbidding corporate activism had a week to accept a severance package, according to multiple reports.
- Armstrong published a controversial blog post over the weekend saying the company would not be taking stances on social issues and would not allow employees to engage in activism at work.
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Coinbase CEO Brian Armstrong told employees in an internal email Wednesday that anyone who is not on board with his anti corporate activism policy would be offered a “generous” severance package, according to multiple reports.
To recap: over the weekend Armstrong released a blog post telling workers to keep politics and social causes out of the workplace. The cryptocurrency broker chief implied in that blog post that employees unhappy with this stance could go work somewhere else.
In this internal email, he made that position crystal clear, telling workers if they are unhappy with the company’s apolitical stance they should leave and would be offered severance, according to an internal email first revealed by Frank Chaparro at The Block.
“Given the clarity we now have in this direction, I know some of you are thinking about whether Coinbase is the right place for you to stay,” he said in the email which can be read in full at CoinDesk. “Hopefully this package helps create a win-win outcome for those who choose to opt out.”
Armstrong also revealed in the Wednesday email that his blog post— which drew both praise and scorn from tech figures— was also divisive within the company.
“Some have expressed appreciation for the clarity and leadership, others have expressed disappointment and hurt,” Armstrong wrote. “It highlights the divide that has been present for some time at the company.”
The package consists of four to six months severance pay, six months health care coverage, and seven years to buy or sell their stock options in the company, the email said.
Armstrong gave a deadline of next Wednesday for employees to take the company up on the offer and leave.
“If you haven’t reached out by this time, we will take this as an indication that you are onboard with this new direction we are taking as a company,” Armstrong wrote.
Coinbase did not immediately respond to our request for comment.
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