Coinbase CEO Responds to Petition Calling for Vote of No Confidence

Citing to several reasons including the failure of Coinbase’s NFT platform, as well as describing the workplace as toxic, the petition continued to blame the three executives as most responsible for these issues.

On Friday, Armstrong took to Twitter criticizing the petition, stating that he was “a little offended not to be included.” He continued to state that if any employee doesn’t have confidence in the CEO or executives mentioned, they can resign and find another company they do believe in.

He further described the petition as “unethical,” as it would not only affect public image, but the internal infrastructure of the company, including co-workers, shareholders, and employers.

“It’s also dumb because if you get caught, you will be fired,” he said.

The comprehensive Twitter thread also touched on the psychology of the people finding someone to blame for the company’s current performance and addressed the Dot collector performance review system.

Meanwhile, the reactions trailing Armstrong’s comments have been mostly negative, with many saying it is proof of the toxic workplace at Coinbase. In addition, some users claim the CEO’s decision to publicly tweet goes against the company’s culture.

Coinbase’s recent role suspension

This saga joins the long list of issues Coinbase has been embroiled in recently. The publicly-listed exchange recently drew the ire of the community after it suspended hiring for all roles due to macroeconomic conditions.

Coinbase was also earlier in the news when it revealed that its users might lose their crypto holdings if it goes bankrupt. However, Armstrong denies this saying their users’ funds are safe.

What do you think about this subject? Write to us and tell us!.

Disclaimer

All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.