Report Stated Coinbase Underpaid Female & Black, Employees

December 30, 2020

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An analysis done by the New York Times of the internal pay report data indicated Coinbase, the leading cryptocurrency trade underpaid its Black and female employees at a much larger rate than exists in the tech space. The report fell on the lines of the other New York Times revealed in November that showed a picture of a firm that has been struggling with its management of Black workers.

However, Coinbase’s executives at the time stated those complaints were only limited to a number of employees, although the firm’s pay data cited in the latest report indicated that unequal treatment of both Black and female employees was more widespread than even shown.


The circumstance of the consecutive uncovered could scarcely be more awful for Coinbase, which recently recorded fundamental reports with the U.S. Securities and Exchange Commission for the initial public offering, without a doubt trying to capitalize by the record flood in the cost of bitcoin and the white-hot IPO market. 


As indicated by the information introduced in the Times report, females at Coinbase were paid a normal of $13,000, or 8%, less than males at practically comparable positions and ranks. In the interim, Black workers were paid $11,500, or 7%, less than all the remaining specialists in comparable positions, the Times report stated. 


In a letter to Coinbase representatives with respect to the latest New York Times article, L.J. Brock, chief individuals official, stated Coinbase has been attempting to guarantee equivalent pay for equivalent work as a component of a wide review of the organization’s pay practices that started in 2018. 


The organization has been working in the course of recent years to guarantee our remuneration system is straightforward and reasonable for all the workers, Brock stated. He additionally added the organization will inspect our pay through the perspective of identity/race, including gender.


Image Courtesy : Pixabay

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