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Seeking Alpha 2020-11-27 13:24:08

Coinbase pushes back on accusations of racial discrimination

Two days before the New York Times published an article alleging the firm discriminated against Black employees, Coinbase (COINB) put out a statement defending itself against the accusations.The NYT piece, published online on Friday and citing five people with knowledge of the situation, said that at least 11 of 15 Black employees who left the company in late 2018 and early 2019 informed Coinbase's human resources department of racist or discriminatory treatment.Those 15 people represented about three-quarters of the Black employees at the 600-employee company, the article said. About 3% of the company's employees are Black, less than half the average in most of the tech industry, and that number has stayed flat in recent years, the NYT article points out. Meanwhile, tech firms like Square, PayPal, and Twitter have been increasing the percentage of their employees who are Black.The former employees described instances of racist comments, being excluded from

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