Coinbase in 2022: a one-week break every quarter
Coinbase in 2022: a one-week break every quarter
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Coinbase in 2022: a one-week break every quarter

By Stefania Stimolo - 12 Jan 2022

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Coinbase announces that in 2022 there will be a one-week break every quarter. That’s exactly four separate weeks in the year when “almost the entire company will shut down”, a way to recharge workers overwhelmed by the high intensity and volume of work. 

Coinbase in 2022: a deliberate recharge time for workers

Coinbase, the US-based crypto exchange, said on Monday that it will give its employees a one-week break every quarter 2022, a deliberation of recharge time for workers stressed by the hard and intense workload. 

Coinbase chief people officer L.J. Brock said thus:

“This year, we’re experimenting with four recharge weeks (roughly one per quarter), when nearly the entire company will shut down so we can all enjoy downtime without work piling up. Four weeks of coordinated recharge time might sound like a lot of time off for a company in hypergrowth, but given the intensity of our work throughout the year, we think this is the best way to ensure our pace is sustainable for the long term”.

Brock also said it has been adopting the FTO or flexible time off policy for years in the countries where it is eligible. This means that most employees do not have to accumulate time off before using it or worry about reaching an annual limit. 

In spite of the FTO, in 2020 the company itself noticed that employees, due to the amount of work, never took enough free time. So at the end of 2020, Coinbase would schedule a single week’s recharge for all workers, and two weeks in 2021. 

A Coinbase office
A Coinbase office

Coinbase closes its San Francisco office

The present decision of the digital and crypto-asset exchange platform is the result of an evolution already announced last May 2021.

In fact, in addition to smart-working which, due to the global pandemic has become the solution to continue working, Coinbase had already announced that in 2022 it would officially close its headquarters in San Francisco. 

A way to become a “remote first” company in its own right and demonstrate their “decentralized workforce”, where no location is more important than the others. 

The closure of the San Francisco office, in fact, would aim to offer a network of smaller offices where employees can go to work if they want to, without having the headquarters and a few locations scattered in a limited number of cities. 

The platform’s 2022 crypto market forecasts

Recently, Surojit Chatterjee, CPO of Coinbase, provided 10 crypto market predictions for 2022. 

Among several points, optimism emerges about Ethereum and its promise of greater scalability thanks to upgrades that are expected to be active from June. Chatterjee argues that the second-largest crypto by market capitalization will continue to be considered the basis of the web3 revolution.

At the same time, the manager says that there will also be improvements on competing blockchains such as Cardano, Solana and Avalanche

Not only that, DeFi, NFTs and the Metaverse will also take centre stage 2022. With exponential growth, it could happen that new insurance protocols will emerge to secure users’ funds. While NFTs will be the new competitors with traditional social networks, both in terms of their popularity and use of the metaverse. 

 

Stefania Stimolo

Graduated in Marketing and Communication, Stefania is an explorer of innovative opportunities. She started out as a Sales Assistant for e-commerce, and in 2016 she began to develop a passion for the digital world, initially in the Network Marketing sector, where she discovered and became passionate about the ideals behind Bitcoin and Blockchain technology, which lead her to work as a copywriter and translator for ICO projects and blogs, and organize introductory courses.

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