Coinbase's Global Marketing Head Latest to Join Mass Exit

Oct 16, 2020 at 08:29 UTCUpdated Oct 16, 2020 at 10:57 UTC.Coinbase Global Marketing Head John Russ is leaving the U.S. cryptocurrency exchange - the latest in a host of departures over recent weeks.

Russ said in a tweet Wednesday that the decision came in response to Coinbase employees being asked to choose between accepting CEO Brian Armstrong's recently announced "Apolitical" policy and leaving the firm.

In the summer, some Coinbase employees had protested internally, seeking a more public position on issues such as Black Lives Matter.

Armstrong pushed back saying the firm would focus solely on its financial mission and offering a severance package for employees unhappy with the position.

The former global marketing head joins at least 60 other employees in their departure from the exchange representing roughly 5% of the company's headcount.

On Wednesday, Coinbase's Chief Compliance Officer Jeff Horowitz also announced he would be stepping away from the company although it is not clear if he left over Armstrong's missive.

Russ did not immediately return CoinDesk's request for comment.