Brian Armstrong Calls Petition To Remove Top Coinbase Execs ‘Really Dumb’

An unknown number of Coinbase’s employees called for a leadership shakeup at the exchange

article-image

Coinbase CEO Brian Armstrong | blockworks exclusive art by axel rangel

share

key takeaways

  • Coinbase employees express concern over leadership, direction of company in now-deleted petition
  • CEO Brian Armstrong said any employees caught signing the petition would be fired

Some Coinbase employees want three top officials at the cryptocurrency exchange removed, according to a now-deleted petition that was first published on Mirror.xyz. Coinbase CEO Brian Armstrong, who was not listed as one of the three, took to Twitter to call the move “really dumb on multiple levels.” 

The petition ​​called for Coinbase Chief Operating Officer Emilie Choi, Chief Product Officer Surojit Chatterjee and Chief People Officer LJ Brock to be ousted. An archived copy of the petition is available from the Internet Archive’s Wayback Machine

“We the employees at Coinbase believe that the executive team has recently been making decisions that are not in the best interests of the Company, its employees, and its shareholders,” the petition said. 

Petition writers cited Coinbase’s “failed” NFT platform, its “toxic” employee review system and the exchange’s aggressive and “unsustainable” hiring practices.

Armstrong encouraged dissatisfied employees to “quit and find a company to work at that you believe in,” in his Twitter thread. 

“Our culture is to praise in public, and criticize in private,” he added. 

The rift comes shortly after the exchange announced it would be pausing hiring efforts and rescinding a number of accepted employment offers, a grievance also listed in the petition. Coinbase has decided to take more “stringent measures” to slow its headcount growth in hopes of navigating uncertain waters, Brock wrote in a blog post about the decision earlier this month. 

Coinbase is also facing controversy from many customers, who were alarmed to learn that the exchange reserved the right to seize client assets in the event of bankruptcy. 

“The crypto assets we hold in custody on behalf of our customers could be subject to bankruptcy proceedings,” the exchange said in its latest earnings report

Armstrong noted that employees caught signing the petition would be fired, as it harms “fellow co-workers, along with shareholders and customers.”

“There is probably lots we can be doing better, but if you’re at a place where you want to leak stuff externally, then it’s time for you to go,” he said.


Get the news in your inbox. Explore Blockworks newsletters:

Tags

Decoding crypto and the markets. Daily, with Byron Gilliam.

Upcoming Events

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

Industry City | Brooklyn, NY

TUES - THURS, JUNE 24 - 26, 2025

Permissionless IV serves as the definitive gathering for crypto’s technical founders, developers, and builders to come together and create the future.If you’re ready to shape the future of crypto, Permissionless IV is where it happens.

Brooklyn, NY

SUN - MON, JUN. 22 - 23, 2025

🚀 Build What’s Next — Permissionless IV Hackathon Join us June 22–23 in Brooklyn for the Permissionless IV Hackathon — a 36-hour sprint hosted by Cracked Labs and Blockworks where top builders turn ideas into real products. Come to launch, not just […]

recent research

Research Report Templates (10).png

Research

Kamino has evolved into a full-stack asset scaling suite with V2: unlocking new markets, improving capital efficiency, and catering to various risk profiles. We believe it is best positioned to become the credit backbone of Solana as the ecosystem matures. Simply put, KMNO remains our highest-conviction bet in the Solana ecosystem. This report lays out our thesis.

article-image

Greenwood was a success story before it was a tragedy

article-image

All eight included staking in their most recent SEC filings

article-image

With an updated Summary of Economic Projections, the Fed sees growth slowing and inflation increasing

article-image

Where do crypto mobile games go from here?

article-image

Bybit’s Byreal, Binance Alpha and Coinbase’s DEX integrations

article-image

This isn’t the worst hack to ever hit Mt. Gox, but it could be the most entertaining