Tag: Coinbase

Serena Williams’ VC firm quietly removed Coinbase from its website

  • Serena Williams invested in Coinbase in 2018 through her venture-capital firm, Serena Ventures. But the cryptocurrency startup is no longer included on the investments page of the firm’s website.
  • Coinbase is entangled in controversy after CEO Brian Armstrong wrote a memo telling employees to leave their politics and social causes at the door. At least 60 employees have quit in the aftermath.
  • It’s possible Serena Ventures has divested its stake in Coinbase and that’s why it pulled the startup from its website. The venture-capital firm did not respond to a request for comment.
  • Visit Business Insider’s homepage for more stories.

Serena Williams is keen on investing in startups changing the world for the better.

That strategy explains her earlier investment in Coinbase, a company on a mission to “bring economic freedom to people all over” through an app that allows casual consumers to buy and sell bitcoin and other cryptocurrencies.

Read More

Chamath Palihapitiya responds to Coinbase controversy: Get a soapbox

  • Well-known venture investor Chamath Palihapitiya said on his “All-In” podcast that employees should be able to have free-form debate on any topic, on one condition — they should have to speak from a physical soapbox.
  • The investor was responding to the Coinbase controversy where Brian Armstrong told employees in a memo last week that politics and social causes had no place at the company.
  • “You put the soapbox someplace — in a safe space — where you can go and you can talk and people who want to listen will listen, and people who need to work can work, and people who don’t want to listen don’t have to be forced to listen,” Palihapitiya said on the podcast.
  • Visit Business Insider’s homepage for more stories.

The head of Coinbase, Brian Armstrong, created a firestorm in tech last week when he told employees in a memo to leave their politics and

Read More

How the Coinbase memo exemplifies Silicon Valley’s current political crisis

Coinbase, the bitcoin bank valued at $8 billion and expected to go public in 2021, is going through an internal identity crisis.

It started back in June, amid the nationwide protests over the death of George Floyd, when Brian Armstrong, the company’s extremely introverted cofounder and CEO, was asked a question at an employee town hall about why Coinbase had not shown public support for the Black Lives Matter movement. Armstrong declined to give a clear answer, according to crypto news site The Block, and his avoidance resulted in a virtual walkout by “hundreds” of Coinbase’s 1,100 employees on June 3.

The next day, Armstrong tweeted, “I want to unequivocally say that Black Lives Matter.” He added: “I’ve been watching the events of the last few weeks unfold – I really did not know what to say about it for a long time, and I’m still not sure I

Read More

Coinbase and Clubhouse aside, Ethel’s Club founder wants to take us ‘Somewhere Good’

Welcome back to Human Capital, a weekly digest about diversity, inclusion and the human labor that powers tech.

This week, we’re looking at a number of topics because a lot went down. Coinbase CEO Brian Armstrong took a controversial stance on social, Clubhouse found itself under scrutiny again, but this time around anti-Semitism and a new site launched that sheds light on some of the negative experiences of underrepresented people in tech. Meanwhile, the founder from Ethel’s Club unveiled Somewhere Good, which aims to provide a safe social platform for people of color. The timing couldn’t be better.

Human Capital launches as a newsletter on Friday, October 23. Be sure to sign up here to get it sent straight to your inbox. 

Stay Woke

Coinbase CEO’s stance on societal issues stirs up controversy 

Over the weekend, Coinbase CEO Brian Armstrong said the company does not engage on border societal issues

Read More

REN uptrend hits pause despite Coinbase Pro listing

  • Coinbase Pro has opened deposits for Ren ahead of the trading on October 6.
  • Ren rallied to levels above $0.30 after the listing news, but a retreat is underway.

Ren pulled through with the uptrend that stalled at $0.25 mid this week. The altcoin made a blissful run above $0.30 but started to retrace, marginally below $0.31. In the meantime, the token has dived under $0.30 and is exchanging hands at $0.25. Bears seem to be gaining traction with a revisit to the 100 Simple Moving Average in the offing.

Coinbase adds trading support for Ren

The bearish outlook outlined in the price analysis on September 30 was invalidated following news that Coinbase Pro listed REN for trading. According to the blog post on October 1, REN “will be available in all Coinbase’s supported jurisdictions, with the exception of New York State and the U.K.” Deposit into the Coinbase

Read More

Coinbase Workers Rattled by Politics Ban and Fear Being Muzzled

(Bloomberg) — Coinbase Inc.’s clampdown on discussing politics and activism at work — and the offer of severance packages to employees who don’t want to comply — continues to ripple through the cryptocurrency exchange and Silicon Valley.



a group of people standing in a living room: Inside the Coinbase Inc. office in San Francisco, California, U.S., in 2017.


© Bloomberg
Inside the Coinbase Inc. office in San Francisco, California, U.S., in 2017.

Many employees were shocked by Chief Executive Officer Brian Armstrong’s blog post imposing the rules Sunday, and some are concerned that he is trying to stymie discourse that should be happening, according to two people familiar with the situation who asked not to be identified. Neither knew of anyone taking an exit package from the San Francisco-based company, but employees have until Oct. 7 to apply.

Loading...

Load Error

Jack Dorsey, Twitter Inc.’s CEO and a noted Bitcoin advocate, criticized Armstrong’s ban on politics, saying late Wednesday the change runs counter to the core principles of cryptocurrencies. Other veterans of

Read More

Twitter CEO Jack Dorsey slams Coinbase chief’s neutral stance

  • Twitter CEO Jack Dorsey and former CEO and investor Dick Costolo are among the tech figures publicly criticizing Coinbase CEO Brian Armstrong.
  • Armstrong has forbidden corporate and employee activism at his company, he said. He has told employees who dislike this to leave the company with severance, according to leaked emails.
  • Dorsey argued that Coinbase’s mission revolves around Bitcoin which is itself “direct activism” against a status quo financial system that “negatively affects so much of our society.”
  • But Costolo’s comments set off a real firestorm, when he used language invoking a firing squad.
  • Some believe that Armstrong’s move to push politics out of his workplace were necessary during a polarized time while others characterized it as tone-deaf and punitive.
  • Visit Business Insider’s homepage for more stories.

Reactions to Coinbase CEO Brian Armstrong’s hard line against corporate activism at his company set off infighting among tech figures Wednesday who disagreed

Read More

Coinbase and Silicon Valley’s Losing War Against Politics

Illustration for article titled Silicon Valley Is Fighting a Losing War Against Politics

Photo: Matt Winkelmeyer/Getty Images for Vanity Fair (Getty Images)

You’d be excused for not following the recent brouhaha associated with Coinbase CEO Brian Armstrong’s announcement that the company would no longer play politics. The statement, posted to Medium on Sunday, is a doozy.

“In short, I want Coinbase to be laser focused on achieving its mission, because I believe that this is the way that we can have the biggest impact on the world. We will do this by playing as a championship team, focus on building, and being transparent about what our mission is and isn’t,” Armstrong wrote.

He rattled off a number of examples of this, culminating in something that gave many pause: “We don’t engage here when issues are unrelated to our core mission, because we believe impact only comes with focus.”

Armstrong’s post is a direct reaction to the Black Lives

Read More

Coinbase head draws scorn and praise for anti employee activism post

  • Coinbase CEO Brian Armstrong wrote in a blog post over the weekend that corporate activism was a “distraction” from his company’s mission of increasing global access to cryptocurrencies like Bitcoin.
  • Mentioning charged topics like the police killing of Breonna Taylor and the upcoming presidential election, Armstrong implied that employees who wanted their company to be focused on social issues should find work elsewhere.
  • Some in the startup and venture capital world were outraged, pointing out that Armstrong tweeted “Black Lives Matter” in June.
  • Others cheered Armstrong, like investor Paul Graham.
  • Visit Business Insider’s homepage for more stories.

The CEO of cryptocurrency broker Coinbase Brian Armstrong stirred outrage and praise from Silicon Valley over the weekend by coming out with a hard line against employee activism at work in a Medium post Sunday.

Mentioning hot-button issues like the police shooting of Breonna Taylor and the upcoming U.S. election, Armstrong said he

Read More

Coinbase is creating a new ‘Platforms’ team, hires executives from Venmo and Adobe

Crypto exchange Coinbase is building a new “Platforms” team and has hired two executives from Venmo and Adobe to join this team.

Shilpa Dhar, former head of product at Venmo, has joined Coinbase as VP of product. Ravi Byakod, former head of commerce engineering at Adobe, has joined Coinbase as VP of engineering.

Dhar and Byakod will lead Coinbase’s Platforms team and help the company focus on creating a “strong, scalable, and compliant infrastructure that can keep up with the growing cryptoeconomy,” said Surojit Chatterjee, chief product officer at Coinbase.

Before Venmo, Dhar worked for PayPal for more than ten years, and Byakod has had stints at Google, eBay and Flipkart.

It is unclear what specific products the Platforms team would build, but it hints at scaling the Coinbase Commerce platform since Dhar and Byakod have experience in leading commerce platforms.

The Coinbase Commerce platform helps merchants accept crypto payments.

Read More