Read the form email Coinbase sent to employment candidates to withdraw their job offers

Read the form email Coinbase sent to employment candidates to withdraw their job offers

Coinbase, one of the world's largest cryptocurrency exchanges, sent mass emails to alert some job candidates who had already accepted job offers that the company was withdrawing those offers. At least one recipient has slammed the missive as "unprofessional." Coinbase's Chief People Officer L.J. Brock said in a Thursday that the company was rescinding some job offers and hitting pause on hiring, citing a need to "navigate this macro environment and emerge even stronger." Coinbase became the first crypto company to enter the Fortune 500 earlier this year with revenues of more than $7.8 billion for the fiscal year 2021, reported last month. But a recent cryptocurrency slump weighed on Coinbase's fortunes. Bitcoin prices are down by more than half since peaking in November, and investors have cooled on crypto, reported on Thursday. As a result, the company's share price hit rock bottom in May and, after bouncing back, is still 80% from when it debuted, per the article. The email, a copy of which was seen by Insider, was sent on Thursday evening. It was titled "Update to your Coinbase offer." One recipient who was supposed to start with Coinbase in late June told Insider he emailed Coinbase right