Binance, Coinbase & Gemini rank low for employee happiness
Recent data from Glassdoor has shed light on employee happiness among 27 of the biggest crypto firms in the industry.
Recent data from Glassdoor has shed light on employee happiness among 27 of the most valuable crypto firms in the industry.
A quadrant chart from recruitment specialists TrueUp illustrates how crypto firms stack up regarding employee happiness vs. its growth. It exposed how staff at some of the top leaders in the industry were amongst the least happy.
The results were collated by Glassdoor, a platform where current and former employees can anonymously review companies. While there is no happiness metric on the platform, the sentiments were gauged using certain crucial questions. These were like: whether someone would recommend the company to a friend, whether they approve of the CEO they worked under, and whether the reviewer had a positive outlook for the company.
The now-bankrupt crypto lender Celsius was seen at the bottom left of the chart, with meagre growth and low employer happiness. It also showed its founder and former CEO, Alex Mashinsky, as one of the industry’s most disliked CEOs, with only 27% of past and present employees “approving” him.
Higher up on the left side were trading firm Amber Group and crypto exchange Gemini. This side also consisted of top companies like Coinbase and Binance. Their CEOs, Brian Armstrong and Changpeng ‘CZ’ Zhao, respectively, have 69% and 65% approval ratings.
On the right side of the chart were the “happiest” workers in the industry. These came from Ava Labs, Blockchain.com, Fireblocks and Ripple.
The large number of staff layouts could have also affected these figures. Binance commented on these results, attributing it to its “hardcore” core value where they choose a candidate “who can thrive in a truly high-performance environment”.
Back in 2017, the legitimacy of Glassdoor data was questioned by recruiters. They held that reviews can be easily faked or manipulated. On the other hand, the platform states that every review goes through a “moderation process” before it is approved for publication on its website.
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