The vice president of business and data at Coinbase is leaving the company over its new “apolitical” mission.
- Dan Yoo explained in a LinkedIn post that his departure was because of the Oct. 7 deadline to express interest in a severance package for employees not comfortable with CEO Brian Armstrong’s recent blog post.
- Yoo said he would stay at the company through the end of the year, if necessary, to help manage his transition out of the company.
- On Thursday morning California time, Armstrong sent a memo to employees telling them 60 employees – or 5% of the company’s workforce – had taken the severance package. He later published a blog post about it.
- A Coinbase spokesperson did not immediately return a request for comment.
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.