Crypto company Coinbase revoking offer letters to candidates who have already accepted

Originally published at: Crypto company Coinbase revoking offer letters to candidates who have already accepted | Boing Boing


Sadly this is pretty common practice at tech companies in at-will employment states.


I wonder how many of these candidates told off their previous employers on the way out the door after accepting the positions at Coinbase.


Clap Harder!!!



Yeah, its shitty but this isn’t exactly breaking news worthy. Happens more often than people seem to be implying.


Wouldn’t happen in the utopia where offer letters are in the blockchain. /s


Please return to the discussion of a tech company treating people inhumanely.


Typical of an industry built on quicksand tech, empty promises, and Libertarian business ethics. Lots of people will be and are being hurt by the current full-court press to foist this garbage on the broader market of greater fools.


I don’t think this is pretty common. It’s a terrible sign to other candidates if it gets out that you’re rescinding offers, because who’s going to quit their job to take you up on a job?

Like, sure, it happens, but it doesn’t happen to healthy businesses with reasonable futures. If someone can find some data to the contrary I’m willing to be convinced otherwise, but I work in tech and the only time I’ve ever had this come up it was kind of a big deal and it was right before the company went under.


It does tho, sometimes management doesn’t fully understand what they want and may at times change their mind and unhire someone. This happened to my significant other earlier in the year


I’ve had it happen to me, and I know three other people that it has happened to. You can define “pretty common” however you like and I’ll do the same.


Much like the prototypical “cryptocurrency”, Bitcoin, by design can’t replace actual currencies, the so-called “Web3” won’t be able to even remotely approach replacing the Web we all know and love, simply due to the way it is designed to work. This is obvious to anybody who isn’t a venture capitalist or crypto/NFT scammer, and the fact that it won’t actually be going anywhere will be a surprise to precisely no one except people who have been duped to put money into it.


Yeah, that was something I immediately wondered about - or at least quit and had put themselves in the position of not being able to keep their previous/existing jobs… the simple act of quitting can burn some bridges. My initial response is to think, “oh, this is horrible,” but on the other hand, it is crypto. There’s a certain amount of “man who dives into shark tank gets bitten” quality to it all.


It’s common in industry-specific or national/global declines. It happened in 2002, 2008, and 2020 and it’s happening now. It is just the way of business now. If you want to stop it, unionize and vote to change state at-will employment laws.

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Those candidates should be happy that the crypto-libertarian (crypto in both senses) machine is working exactly as it should and they are perfectly executing their role as disposable cogs. Good for you, this is the future you wanted when you decided to work for a crypto company.


It’s extremely common in tech and has happened to almost every business I’ve ever worked at , the vast majority of which have reported record year over years in 4/5 years they’ve existed. To the point that severences of one month and health insurance for three are typically commonly given and COBRA is extended after that to even people who accepted.


This is obviously shitty behavior, but I’d much prefer it to starting a job and then learning a month later that the company can’t make payroll.

I think a lot of people haven’t realised what a crock the whole thing is. From the start, mainstream reporting has been very credulous, because professional commentators can’t admit that they find the jargon as baffling as everyone else, so they pretend to take it seriously. It’s been driving me up the wall with “web 3”, particularly – even when attacking it, people still talk like it’s a real thing, and that in itself is giving the hucksters what they want.


Fuck these guys.

My green card is contingent on a job offer that has been outstanding since 2019. With luck it will be approved in the next year. The amount of trust you need to have in an employer not to utterly fuck up your future using this system is extreme, and I can think of nothing more despicable than to begin this process for an employee only to rescind it after what could be many many years waiting for this process to complete.

And I am both White and Canadian, I get the easy lane and it’s still been years.

Unless the company is literally at risk of insolvency this is the most dickish of dick moves.


Not to mention that the United States is damn lucky to have you and other expert professionals willing to work there in spite of all the hoops that you have to jump through.


seen it happen. seen it happen to people right after moving. :frowning:

i’ll admit i’m incredibly naive. what the heck do employees even do at a crypto company?

it seems almost nobody hires staff for servicing machines anymore, or for doing customer service - everything’s outsourced to contractors or call centers.

so is it all algorithm optimization or something? i literally have no idea what a crypto hire would even do

( maybe coinbase finally started wondering that too? )