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In previous reports, CryptoDaily detailed how Mastercard has partnered with other crypto firms such as Coinbase, even going forth with the acquisition of digital asset analytics firm CipherTrace. Sethi attacked the payment technology giant for allegedly abusing it and for playing down its role in the company's ambition to enter the crypto space.
Let me share with you what Sethi had to say:
I have resigned from @Mastercard.
Over the past year, I have been in the position of "responsible for non-subject products". I have been evangelizing web3 for the management of mastercard.
This wasn’t easy but read on for why it was necessary, and what’s next ??: pic.twitter.com/kqiavsSIW7
— Satvik Sethi (@sxtvik) February 2, 2023
Sethi claims that Mastercard cut out his salary package by 40%, this, during the recent bear cycle and industry-wide decline in NFTs. According to Sethi, this was also coincident with his decision to relocate from New York to London. Sethi shared how he "had to work secondary jobs over the last year to make ends meet" due to wage cuts.
Sethi also claimed that there were cases where he had to beg "in the master's hierarchy" just to receive his salary. In addition, Sethi also said he was harassed by management as a result of a series of poorly managed processes, poor communication [and] internal inefficiencies."
Following his resignation, Sethi asked his Twitter followers to back him with a DTV hit: his own letter of resignation. The NFT in question was minted for 0.023 ETH.
“100% of this goes to survival,” shared Sethi.
The former product manager NFT said later that he was soon going to lose his UK work visa, with a setback from work and being based in India in the foreseeable future.
