Twitter CEO criticizes Coinbase for its recent ‘culture shift’

Jack Dorsey donates nearly 30% of his wealth to COVID-19 fight

Twitter CEO, Jack Dorsey, joined the growing number of Coinbase critics who bashed the exchange for its recent change in rules. The exchange decided to ban all political discussions, which doesn’t sit well with the community.

Twitter CEO bashes Coinbase

Coinbase, the largest cryptocurrency exchange in the US, recently decided to go through what it calls a culture shift. More than anything, the shift insisted on banning any political discussions for its employees while at work. The company said that doing so would be distracting from the company’s mission. It even said that unsatisfied employees are welcome to take a severance package and leave.

However, according to critics — Dorsey included — such a ban is against the core principles of cryptocurrency. According to Twitter’s CEO, social activism is the very reason why cryptos exist. He doesn’t believe that it is right for a company that lists decentralized cryptocurrencies that are immune to censorship to try and censor topics.

“#Bitcoin (aka “crypto”) is direct activism against an unverifiable and exclusionary financial system which negatively affects so much of our society. Important to at *least* acknowledge and connect the related societal issues your customers face daily. This leaves people behind,” he said.

A large part of the community supports Coinbase

There were those who argued against this, noting that businesses should stay out of politics, and that they should focus on delivering a ‘solid product or service, rather than pandering to political trends.’

However, Dorsey argued that there is no reason why the real-world issues that affect people should not be acknowledged and connected with the crypto mission. According to him, connecting the two could even lead to finding solutions to said issues more easily.

Dorsey’s tweet attracted a lot of people who agree with Coinbase’s CEO, although the backlash that the exchange is experiencing after the announcement is still going strong.

The post Twitter CEO criticizes Coinbase for its recent ‘culture shift’ appeared first on Invezz.

Publication date: 
10/01/2020 - 10:32
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