US based cryptocurrency exchange, Coinbase has been accused of racism according to a New York Times report. The exchange according to the report has been paying women and black employees less than their white counterparts in similar jobs.
The report contained data from the employee payroll which showed that women at the US based exchange were paid an average of $13,000 or 8% less than their male colleagues in similar jobs within the firm. Black employees were paid $11,700, or 7% less than white colleagues in similar positions.
Few weeks ago, NYT reported some employees of Coinbase public compliant about discrimination they face at the firm. The firm has argued that this was the result of unhappy workers however; the NYT report accuracy was corroborated by nine employees who were included in the report.
In the US Tech industry, racism and wage disparity has been a serious, heated continuous issue. Multiple tech firms especially in the Tech capital, Silicon Valley has been in the past has been accused.
Former CTO of Coinbase, Balaji S. Srinivasan took to twitter to respond to the accusation. He said no one trusts the data analysis and that most of the executives at Coinbase are women and people of color.
He dared the reporter to past the New York Times Company’s pay data online so that everyone can compare.
Coinbase, is set to IPO soon with with Goldman Sachs to manage the firm’s Initial Public Offering.