60 Coinbase Employees Leave After CEO Memo

60 of the 1,200 employees have left, according to Coindesk, which represents 5% of the taskforce

Most of the employees who have left are reportedly from the engineering team

Armstrong published a public statement and sent employees a memo that said that Coinbase would not engage in political activism in an era where politics finds itself embedded in Silicon Valley culture

The CEO said that employees were free to leave if they disagreed with Coinbase’s position, and would be given a “generous” severance package

Armstrong said that he expects more departures, but that he expects the eventual outcome to be a “stronger and more united team”