Crypto exchange Coinbase has confirmed that it has suspended all hiring and has even gone as far as to rescind accepted job offers, leaving its would-be employees high and dry.
The rug pull announcement came via the official Coinbase blog on Thursday in a post credited to LJ Brock, the corporation’s Chief People Officer.
In the piece, Brock explained that the decision had been made in response to the current “macro environment” that had forced the company to rethink its “business priorities.” Unfortunately, those priorities did not include people to whom the company had already offered jobs.
The blunt tl;dr from Brock stated:
“In response to the current market conditions and ongoing business prioritization efforts, we will extend our hiring pause for both new and backfill roles for the foreseeable future and rescind a number of accepted offers.”
Regarding the rescinded job offers, Brock added, “This is not a decision we make lightly, but is necessary to ensure we are only growing in the highest-priority areas.”
That cancellation of contracts is a ruthless business decision that has already caught the critical eye of crypto Twitter users. One Twitter user went as far as to describe the action as a “scumbag move” since “rescinding offers is so disruptive to people’s lives and careers.”
Presumably, at least some would-be Coinbase employees had already handed in their notice at their current roles, leaving them without work.
Rumors that rescinded offers also included intern positions are as yet unconfirmed. BeInCrypto has reached out to Coinbase and LJ Brock for comment.
Ending the fair-weather revolution
Although there are no currently available roles at the company, Coinbase does make a great case for joining their ranks.
“We’re Coinbase,” begins the Coinbase careers page. “We’re the world’s most trusted way to join the crypto revolution, serving more than 89 million accounts in more than 100 countries. Come work with us.”
Jobseekers who trusted Coinbase to honor job offers may now have good reason to question the credibility of that “most trusted” claim. The revolution as imagined by this exchange is only a very fair-weather notion.
Vive la Coinbase révolution! Sorry, the revolution has now been canceled.
Looking for a job? Check out the BeInCrypto careers page.