Operation Revive Coin – a petition against top officials of Coinbase.
Operation Revive Coin is a petition which was filed by an employee of Coinbase, who remains under cover. The petition was filed to remove COO Emilie Choi, Chief Product Officer Surojith Chatterjee and Chief People Officer LJ Brock in a vote of no confidence.
The petition was filed because the employees believed that the decisions made by the top people in the management hierarchy was having a devastating impact and was not in the interest of the company, its employees and its shareholders. The names mentioned above, were the people who were responsible for the execution of plans and ideas that reportedly led to questionable results and negative value. Some of the results which had a negative impact on the company were, the failure of Coinbase in NFT, the over prioritization of certain products and many more.
Coinbase CEO’s views on the petition.
Soon as the petition was filed against the top officials of Coinbase, CEO Brian Armstrong was quick to react on it and made a series of tweets. But, before he got to know about the petition and he acted upon it, the petition was deleted and taken back by the concerned person.
Lets look at the tweets made by Brian Armstrong.
3/ Second, if you have no confidence in the execs or CEO of a company then why are you working at that company? Quit and find a company to work at that you believe in!
— Brian Armstrong – barmstrong.eth (@brian_armstrong) June 10, 2022
It is evident that, the billionaire CEO was not happy about the petition. He exclaimed in the tweets that; the petition was dumb on multiple levels. He bellowed that any criticism should be directed at him and not his C-suite.
Armstrong also went on to the extent of quoting, “Quit and find a company to work at that you believe in.” The tweet did get viral and got the attention of the community.
Armstrong gutted about the petition being made public.
Armstrong surely feels gutted about the petition that was made publicly even though, it was deleted afterwards. Armstrong wrote that posting petition publicly was unethical and surely not an efficient way to instill changes in the company. He also made it clear and loud that the employee behind this mess which was created will be fired with immediate effect. He went on to talk about the company’s culture and vision. He said that, the company’s culture is to praise in public and criticize in private.
Armstrong’s is certainly unhappy about the issues happening internally in the company as there is already a lot of external pressure from the market force. The market crash, freezing hiring process, rescinding job offers given to students all add to the pressure. Amidst all the external vows, the internal vows created by the employees is really frustrating and can be stressful at time when it becomes public.
