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Coinbase Set to Allow Remote Working for Employees After Lockdown

Coinbase Invests In $4.3 Million in Crypto Derivatives Exchange Blade

Coinbase, of the biggest crypto exchanges out there, based in the US, has announced that the exchange will start to transition itself into a “remote-first” workplace. This will occur even after the pandemic lockdown. It stands as an effort from Coinbase itself to protect against risks regarding locations, as well as a bid to improve overall decentralization.

Adopting Decentralized Work Ethics

This was made clear through an open letter sent to all of its employees. Through this, the CEO of Coinbase, Brian Armstrong, addressed Coinbase’s staff. Within it, Armstrong explained that Coinbase would start embracing the “remote-first” structure after the restrictions of the quarantine are over. What this means, according to Armstrong, is that a large majority of Coinbase’s roles will have the option of working either from the office or remotely instead.

With this move, it’s estimated that 20% to as much as 60% of the total employees of Coinbase will continue its remote work practices. This will occur even after the restrictions of COVID-19 have been removed.

From Problems Comes Unexpected Solutions

This new implementation of mindsets comes as a direct result of the mandatory social distancing that was unexpectedly forced upon all businesses. The main selling point was that this unexpected shift to a work-at-home structure had produced less complexity than what Coinbase had initially expected it to give.

Armstrong went further, explaining that the further preventative measures will make it that Coinbase would not be capable of fitting all its employees in its offices in San Francisco, such as the “six feet apart” rule. As a result, the company has decided to innovate, painting it as an extension to the values of crypto.

Minimizing Risks And Implementing Cosmos Staking

In order to tie this into the ideology of the company, Armstrong claimed that the overarching vision for Coinbase is that of creating a world with more economic freedom. With this, Armstrong claimed that its employees not being tied to one location stands as a crucial part of this work ethic. Furthermore, the Coinbase CEO is convinced that this decision will be an influential one, stating that it could influence the paths of many companies, moving forward.

This announcement comes on the same day that Coinbase has launched a staking rewards feature for holders of the Cosmos assets. Bryce Ferguson, the Product Manager at Coinbase, stated that this removed the risks commonly associated with token staking for users. According to Ferguson, this is due to Coinbase Custody being capable of covering any losses that could be incurred by the user.

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      A journalist, with experience in web journalism and marketing. Ali holds a master's degree in finance and enjoys writing about cryptocurrencies and fintech. Ali’s work has been published on a number of cryptocurrency publications.

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