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Coinbase Doubles Down on Talent, Unveiling Five Initiatives to Attract and Retain Top Web3 Talent


Coinbase, the leading cryptocurrency exchange that provides a platform for buying, selling, and trading cryptocurrencies, released a statement today showing their ongoing commitment to attracting and retaining top talent in the web3 space.

The company believes that talent is its most important asset (as do we!) and that a strong team is essential to its success, and frankly future. After a year of a cold crypto winter, legal (U.S.) turmoil, and company-wide layoffs - Coinbase's statement marks a flag-in-the-sand noting that their ready to stand back up and continue making strides as the industry leader.

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In the release, Coinbase covers a number of initiatives now in place to attract and retain top talent within web3, including:

  1. Elevating Assessment Standards: Moving beyond conventional hiring parameters, Coinbase has incorporated cognitive testing into its structured assessments for cultural and technical aptitude, aiming to enhance consistency and fairness in its recruitment process.

  2. Prioritizing Internship-to-Employment Pathways: In a strategic pivot, Coinbase is increasingly focusing on converting interns to full-time roles, emphasizing the infusion of new perspectives and potential into its workforce.

  3. Top-Down Involvement in Hiring Decisions: In a notable policy, hiring approvals at Coinbase now require the nod from the CEO and President/COO, underlining the high stakes and strategic importance the company places on each new hire.

  4. Revamping Performance Management: The introduction of nuanced performance reviews and an internal tool for more comprehensive feedback underscores Coinbase's commitment to continuous growth and excellence among its employees.

  5. Linking Executive Accountability to Talent Quality: Starting in 2024, executive team members at Coinbase will have their performance ratings tied to the quality of talent within the organization, a bold move indicating the seriousness with which the company views its human capital.

Working at Coinbase, as per the company's transparent communication, is not for everyone. It demands resilience, adaptability, and an unwavering drive for excellence. For those who meet these criteria, the company promises a work environment that rewards exceptional performance and offers significant opportunities for career advancement (such as making additional efforts to promote from within).

Launched in 2012, Coinbase, co-founded by Brian Armstrong and Fred Ehrsam, has grown into a leading name in the crypto exchange market. It facilitates the trading of various cryptocurrencies and is known for its mission to democratize financial systems globally. Coinbase has over 89 million users in over 100 countries and has facilitated over $337 billion in transactions. That's a lot of transactions.

Conclusion

Coinbase is committed to attracting and retaining top talent in the Web3 space. The company's five new initiatives to increase talent density will help Coinbase to build a world-class team of engineers, designers, and product managers. Given that we're in a bear market - and who Coinbase is as a leading company In the space - it probably won't be that hard for Coinbase to continue to attract and retain top talent. Only time will tell.

If you're interested in applying to a job at Coinbase, checkout their careers section here.


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