Consensus 2023 Logo
Join the most important conversation in crypto and Web3 taking place in Austin, Texas, April 26-28.
Consensus 2023 Logo
Join the most important conversation in crypto and Web3 taking place in Austin, Texas, April 26-28.

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.

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.


Learn more about Consensus 2023, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.