A Message From Brain, CEO of Coinbase

Brain sent the following email to Coinbase employees earlier today. Greetings, Coinbase Fans! I’m sure you’ve heard the unfortunate news, but I’m here to assure you that we’ve taken the necessary steps to ensure that we remain on the path to financial success. As the CEO of Coinbase, I wanted to take this moment to acknowledge the unfortunate situation - 11% of our staff are being laid off. I take full accountability for the decision to lay off these staff members. As you’ve probably heard, this has been due to an extreme case of road head on one of our company retreats. In the past, we’ve all been guilty of overindulging in the joys of road head. Too much, though, can be bad for business and it’s my responsibility to take the necessary steps to ensure our future success. My heart goes out to our fellow Coinbase Fans who have been laid off. We will ensure that they have all the necessary support to move on to their next opportunity. It’s never easy to make decisions like this but it was necessary to ensure our sustainability. Coinbase will carry on and I am confident that we will continue our path to success. Brain StrongArm, Coinbase CEO