TechFlow news — On November 27, The New York Times reported that in recent years, 15 Black employees at Coinbase have either resigned voluntarily or been fired, accounting for three-quarters of all Black employees at the company.
Five individuals familiar with the matter said that at least 11 of those employees reported experiencing racism or discriminatory treatment to the human resources department or their managers before leaving the company in late 2018 and early 2019.
In the United States, racial discrimination is a serious violation of the law, potentially breaching Title VII of the Civil Rights Act of 1964. In California, where Coinbase is based, legislation providing reparations to African Americans was formally passed on August 31 this year, involving compensation totaling $14 trillion to address harms stemming from the enslavement of Black people by whites over a century ago.
On the 25th, Coinbase issued an internal statement warning that the New York Times article would "potentially quote" three former Coinbase employees and one former contractor, calling such references derogatory.
