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Wednesday, January 26, 2022

Coinbase Accused Of Practising Racial Discrimination By NY Times

A journalist from NY Times is at a crossroads with the crypto exchange Coinbase in the United States. It was near to releasing its IPO on the crypto market, meanwhile, a journalist accused the popular cryptocurrency exchange of showing racial biases.

Details Of Accusation Hurled At Coinbase

The showdown between start-ups and tech journalists rages on. Silicon Valley has brought a lot into their conference rooms, however, there are certain boundaries not meant to be crossed and racism stands at the top of the list. The journalists take on a very important and critical role in highlighting the unfair practices in corporate buildings.

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A second article from the same newspaper alleges that Coinbase has a practice of underpaying women and people of color. The article showed that black and female employees are paid 7% and 8% lesser than white employees. For the past month, Popper was reporting very discriminatory practices that are happening inside the company, especially mentioning that such practices were more pronounced in that company than in the remaining tech industry. The disparities in pay at the firm are larger than the current disparities in the remaining tech industry. It also happens at many tech companies that have not still released their data.

Balaji Srinivasan, former CTO, Coinbase who has a history of not fearing journalists picked Coinbase’s side by tweeting that most executives at the company are persons of color and women. Further, he presented many statistics from tech journalism. Srinivasan said that the world of reporting is far less inclusive than the side of the tech. Srinivasan attacked the competency of Popper as a reporter of crypto news. An attack of political nature in the time of protest movements has the capability of tarnishing the image of Coinbase when it is so near to announcing its IPO.

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