From the earliest days I built Coinbase to harness the power of cryptocurrency and create more freedom in the world. Five years ago we codified this into the first version of our vision, mission and strategy, the top level objectives that our products and goals align to.
Every few years we take another look and see if we can improve the communication of these core tenets. Why? Because they inform almost every decision we make at Coinbase. “Does this help us achieve our mission?” is one of the most common questions we ask ourselves. …
The cryptoeconomy is still in its early stages, but it is clear that every year more and more economic activity will take place on crypto rails. Coinbase is the trusted bridge to the cryptoeconomy today, but we need to become the place people also go to actually participate in the cryptoeconomy.
We’re seeing crypto quickly mature from its initial use case of trading bitcoin to the trading of thousands of new assets, and the adoption of new use cases like Decentralized Finance (DeFi), NFTs, smart contracts, Decentralized Autonomous Organizations (DAOs), and more. Much of this is relatively new and there…
The following cultural tenets describe how we treat each other and operate day-to-day at Coinbase. Outlining our culture helps everyone — from candidates to new leaders to veteran employees — understand how we interact and get work done in service of our mission. Some of these ideas are more aspirational than others, meaning they represent where we would like to be, not necessarily where we are today. Our goal as a team is to continually get closer to this ideal.
We published the first version of our culture doc in July 2019. Today’s update has many of the same themes…
Every tech company should go direct to their audience, and become a media company.
As Coinbase and the cryptoeconomy grow, we’ve seen more interest from the media, government, and the general public in our business and in crypto overall. This increased awareness has been great. Unfortunately, we also see misinformation published frequently as well, whether in traditional media, social media, or by public figures.
This doesn’t always come from negative intentions. Our business, and crypto, can be difficult to understand, and often people are rushed to post first impressions online, making mistakes in the process. …
Last week, I shared that Coinbase is a mission focused company. The post received quite a bit of attention, and sparked a lot of debate about how companies should operate.
We subsequently decided to make a generous exit package available to any employee who didn’t feel they could be on board with this direction. Today, I sent the following email to the company. Hopefully it sheds some light on how it has unfolded.
I wanted to send you a follow up now that the deadline has passed for people opting in to the exit package.
I know there…
There have been a lot of difficult events in the world this year: a global pandemic, shelter in place, social unrest, widespread protests and riots, and west coast wildfires. On top of that we have a contentious U.S. election on the horizon.
Everyone is asking the question about how companies should engage in broader societal issues during these difficult times, while keeping their teams united and focused on the mission. Coinbase has had its own challenges here, including employee walkouts. …
Coinbase is an exciting and unique company and as we continue growing, it’s important that we create a strong culture. A few years ago, I wrote in the Coinbase culture doc:
We hire people who are passionate about creating new products with technology. We look for entrepreneurs who are comfortable with ambiguity. We prefer to work with people who actually execute toward ideas, instead of just coming up with them. When the creative moment strikes, we try not to let big company process get in the way or slow them down.
Today, I want to expand on this…
I sent the note below to employees earlier today. I’m sharing it publicly here in case others find it helpful.
People are trading and using cryptocurrency more and more during this economic crisis we’re in, getting interested in sound money and what the cryptoeconomy can offer. Coinbase is continuing to hire and grow during this time period. If you’re interested in helping create this new culture with us, please check out our open roles (soon to be updated with more remote positions).
Companies are thinking about how and when to have employees come back to work. Due to social distancing requirements, many are realizing that they will only be able to have up to 50% of employees return to offices at most.
At the same time, many companies are realizing that remote work has worked better than they expected. They are now asking themselves whether they should keep some portion of their work force remote indefinitely.
For most companies, it will be a mix of remote and in-office. Here’s why:
Coinbase is operating important infrastructure for the economy during these trying times. I wanted to share a few updates on how we are keeping employees safe and ensuring that we are serving our customers.
We’ve published our internal planning and comms around COVID19 here in case it is helpful for other companies.
My first priority is the health and safety of our employees. That is why we have mandated that everyone globally who can work from home do so. …