In the wake of the Bitcoin crisis, Coinbase is cancelling employment offers.
Despite a 4,900 per cent rise in revenues in 2021, Coinbase has stated that it is suspending hiring indefinitely, cancelling both open positions and those that potential employees had already accepted.
This is a low blow because, in many cases, accepting a position is done with advance notice to the existing boss that we will be leaving, allowing the company to locate a replacement and work on his training. Coinbase has thus put several people out of employment, putting their lives in peril.
Although LJ Brock, Coinbase’s Chief Product Officer, has stated that there will be some exceptions, they will be managed by the same standards as the company’s alternates. They want to ensure that they only expand in the highest priority areas.
Finally, this criterion should not apply to tasks involving security, collaboration, or other vital professions. Still, many people are aware that attention to users is often restricted, so these occupations could be significant., especially given the steady decline in the value of cryptocurrencies.