Coinbase faces scrutiny over alleged harassment and discrimination claims

A New York Times report about treatment of minority employees at cryptocurrency exchange Coinbase has garnered attention as fintech and financial firms strive to improve their performance on diversity and equity issues.

Why should we care?
The New York Times piece, which was based on interviews with 23 current and former employees, offered personal accounts from minority employees who said they experienced discrimination and harassment. Three quarters of the company’s Black employees left the company in late 2018 and early 2019, and at least 11 of the company’s 15 Black employees told HR or managers about racism and discrimination, the New York Times reported. Meanwhile, 60 employees decided to take buyouts after the company took the decision not to engage on social justice matters in September. Coinbase said in a statement that it’s committed to inclusion, and that only three people filed complaints during their time at Coinbase. It said the complaints were “thoroughly investigated, one through an internal investigation and two by separate third-party investigators, all of whom found no evidence of wrongdoing.”