Coinbase’s Global Marketing Head Latest to Join Mass Exit
Coinbase Global Marketing Head John Russ is leaving the U.S. cryptocurrency exchange, the latest in a host of departures over recent weeks.
- Russ said in a tweet Wednesday the decision came in response to Coinbase employees being asked to choose between accepting CEO Brian Armstrong’s recently announced “apolitical” policy and leaving the firm.
- In the summer, some Coinbase employees had protested internally, seeking a more public position on issues such as Black Lives Matter.
- Armstrong pushed back, saying the firm would focus solely on its financial mission. If offered a severance package for employees unhappy with the position.
- The former global marketing head joins at least 60 other employees in their departure from the exchange representing roughly 5% of the company’s headcount.
- On Wednesday, Coinbase Chief Compliance Officer Jeff Horowitz also announced he would be leaving the company although it is not clear if that was because of Armstrong’s missive.
- Russ did not immediately return CoinDesk’s request for comment.
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