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Finance

Coinbase's Global Marketing Head Latest to Join Mass Exit

Global Marketing Head John Russ is the latest in a string of departures from the crypto exchange over recent weeks.

By Sebastian Sinclair
AccessTimeIconOct 16, 2020 at 8:29 a.m. UTC
Updated May 9, 2023 at 3:12 a.m. UTC
Coinbase

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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    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.