A new documentary about Coinbase and its CEO Brian Armstrong is headed to streaming platforms everywhere including Amazon Prime and YouTube.
The Coinbase Story Is Available to Viewers Everywhere
Coinbase began in the year 2012. Around for only a decade, the company rose to prominence rather quickly and is now considered one of the largest and most popular digital currency companies in the world. Coinbase is the biggest exchange in the western hemisphere and is second only to its European and Asian rival Binance.
The company boasts an illustrious history, but the firm’s major bullet points – it can be argued – did not arrive until just under two years ago. In April of 2021, the company announced that it was going public, meaning stock shares based in Coinbase would trade on the Nasdaq that retail investors could purchase. Things started out well as those shares were trading for more than $300 each when Coinbase first arrived on the stock market.
Coinbase is one of the only digital currency companies to have gone public and to have shares available to members of the public. It’s no doubt a successful enterprise, though we’d be lying if we said it did not have its fair share of problems either, many of which have also come about rather recently.
For example, the stock shares that initially began at prices beyond $300 have fallen drastically simply because the company is so tied to bitcoin. With the world’s number one digital asset now experiencing its most bearish conditions yet (the currency has fallen from $68,000 per unit last November to about $20K at press time), Coinbase shares have taken massive dips along with it, and those shares are now selling for about $50 each.
This has also affected the company’s hiring schemes. Initially, it was announced that 2022 was going to be the ultimate year for hiring new faces at Coinbase. The enterprise was planning to increase its size tenfold and bring on several new workers to expand its growth quickly, but this didn’t happen. In fact, the company took the opposite approach when the crypto space began sinking earlier in the year.
Trying to Create the Right Image
Things started out with an announcement of a hiring freeze. Coinbase was not going to be bringing on loads of employees like it had originally planned to. It was instead going to put these plans off indefinitely. From there, however, things took an even nastier turn when the enterprise stated that it was in the process of laying off as much as 18 percent of its staff, thus reducing its size significantly.
Armstrong is eager to tell his story through the upcoming documentary before members of the media have opportunities to make up their minds about him first. The project is directed by a filmmaker whose previous projects included the Alaskan wilderness.
