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Coinbase revealed it was firing 1,100 people — about 18% of its staff — on the back of a hiring freeze, retractions of job offers, and an employee revolt. At the same time Crypto competitor FTX crowed about having only ~300 employees prompting the question by the FT - what do all the Coinbasers actually do?
We have questions and, in the spirit of DeFi, will seek the answers using decentralised reporting: What on earth were they all doing? How many of them were involved in creating the ad promising that “crypto isn’t dead” despite Bitcoin’s 50 per cent year-to-date decline? When it was posted three weeks ago, Bitcoin was down slightly less than 40 per cent, so perhaps more optimism was warranted? Quasi-bank Celsius was also still allowing customers to trade (though there had been some signs of trouble). What are the remaining 5,000 employees at Coinbase going to be doing, and how many of them plan to stick around after the past month’s HR dust-ups?
https://www.ft.com/content/ff3f8427-246b-4d47-a68c-c1234dc31d0e
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