One software engineer who was about to join the exchange says he has 90 days to find another job, or he will be unable to remain in the U.S.
Coinbase has been criticized for rescinding job offers as the crypto winter causes the exchange to make cutbacks.
The trading platform, which as recently as February was loudly proclaiming that it planned to hire 2,000 people this year, has embarked on a U-turn after Bitcoin's value plunged by more than 50%.
To make matters worse, Coinbase lost $430 million in the first quarter of 2022 — missing revenue targets and adding further downward pressure to the company's stock price.
One of those affected was Chung Wook Ahn, who is about to graduate with a software engineering degree.
He was notified via email that Coinbase would no longer be hiring him — two weeks before his start date. Not only had he missed out on the chance to work at Amazon and Oracle, but he'll lose his right to remain in the U.S. unless he finds an alternative position within 90 days.
Chung updated followers on his situation via LinkedIn, and he's had hundreds of supportive comments, with some alerting him to other companies who are still hiring. But he wrote:
"I am left speechless of the irresponsibility Coinbase has shown in managing hires and helpless about my current situation."