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- Coinbase paid the Black and woman staff much better for the US-based cryptocurrency platform than the whole software sector
- Coinbase has an 11-per cent pay difference between white and black jobs
- In the meantime, the Times said that Black staff got $11,500 or 7 per cent less than all other comparable jobs
Coinbase, a cryptocurrency exchange company, provides underpaying salary to female workers and black workers than technical industries. But the New York Times published an article in which they have talked about discrimination of Blacked employees at the crypto company. Coinbase is facing problem in treating their employees, not on their gender and race. Some agencies have provided the salaries of employees at Coinbase, female employees were paid 8% less than that of men, and blacked workers were paid 11% less than that of white employees.
Also, blacked employees were paid 7% less than all the employees in the same post. Alexandra Marr, an economist who presented comparative research on legal disputes surrounding wage disparities, performed the Coinbase analysis in the Times. For most of Coinbase’s 830 workers, the data contained salary information at the end of 2018.
Coinbase Underpaid Women and Black staff
Before the November first report of the New York Times, at least 5 per cent of Coinbase’s employees quit the company after being asked to vote for “apolitical” strategy from embracing the newly announced CEO Brian Armstrong and quitting. This recent story indicates that issues with the exchange workers are not gone. In a letter to Coinbase staff about the latest article in the New York Times, L.J. Brock, CEO, said that as part of the company’s compensation policies’ systematic analysis, Coinbase is pushing for fair pay for similar jobs that started in 2018.
Coinbase has taken an apolitical position on the Black Revolution
Alexandra Marr, an economist with a mathematical study of legal cases involving wage disparities, performed a Coinbase analysis for The New York Times. Coinbase’s workers made equity options — which are also an essential aspect of salaries for startups — it gained approximately the same compensation for women and men, with the white-and-black disparity rising to 11%.
Brock said that the company has been working “to make our compensation framework transparent” over the past two years and “fair to everyone” and that the company will “examine our pay in addition to gender through an ethnic/racial lens.”
Coinbase has their IPO, and suddenly everyone finds dirt on them, whether it’s the SEc accusing them of selling unregistered securities (XRP) or this. They’re all spreading FUD, Wallstreet wants to get in cheap when the stock becomes publicity traded.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
