The CEO of Coinbase, Brian Armstrong, slams an online petition that calls for the removal of some of the top Coinbase executives.
The now-deleted petition titled “Operation Revive COIN” requests for the removal of COO Emilie Choi, Chief Product Officer Surojit Chatterjee, and Chief People Officer LJ Brock as part of a vote of no confidence.
Employees filed the petition because they considered that top-level management actions were having a negative impact on the company, its employees, and its shareholders.
The personnel indicated above were in charge of putting plans and ideas into action, which allegedly resulted in questionable results and poor value.
As per the petition, the failure of Coinbase NFT platform, the over prioritization of specific products, and many other outcomes had a detrimental impact on the company.
When the petition was filed, CEO Brian Armstrong was quick to respond with a twitter thread. However, before he became aware of the petition and took action, the petition was deleted.
But a screenshot of the petition was saved on the Wayback Machine, which archives previous versions of websites.
The petition clearly did not sit well with Armstrong. In his tweets, he stated that the petition was ‘dumb on multiple levels’ and the employees should’ve blamed him instead of the executives.
Armstrong claimed that making the petition public was unethical and ineffective at creating changes in the firm.
The staff should work as a team and raise solutions if they’re unhappy about something, instead of ranting without even consulting the team, Armstrong added.
Armstrong also stated that the employee who was responsible for the mess that was caused will be dismissed immediately.
The petition did note about initiatives like the Dot Collector and the Performance review system that has led to a toxic workplace culture to which he responded saying, if employees are going to leak stuff like this they should leave the firm.
He went on to discuss the company’s vision and culture. According to him, the company’s ethos is to praise in public while criticizing privately.
Armstrong even went so far as to say, “Quit and find a company to work at that you believe in!”
Armstrong is clearly dissatisfied with internal concerns, as the company is already under a lot of external pressure from the market. The crypto market crisis, the hiring freeze, and the revocation of job offers made to students all contribute to the stress.
