Recently, the CEO of Coinbase, Brian Armstrong, announced that the company is bringing a new rule, which will bring a major culture change at Coinbase exchange. Employees at the US’ largest exchange are no longer allowed to discuss politics while at work. The move was quickly criticized by the community, and soon enough, major names in the crypto world joined the criticism.
Garlinghouse publicly opposes Armstrong
According to Armstrong, the crypto exchange will not debate causes or political candidates, or really engage with any issue that is not in some way tied with the core mission of Coinbase. He called it an apolitical culture that is ‘laser focused’ on making profits and advancing crypto.
As mentioned, Garlinghouse stood against this, noting that Silicon Valley has an obligation to help solve societal issues. He stressed that tech firms’ job is more than to simply enable an internet of value. Their goal should also be to bring positive outcomes for society itself.
As the number of those disagreeing with Coinbase continues to rise, the exchange has decided to keep quiet and not comment on the new development. However, it already lost around 5% of its workforce, which includes employees who took its offer to depart from the firm with the offered severance packages.
It also makes sense that Garlinghouse would stand up against Coinbase’s policy, since Ripple always did promote corporate activism. The firm even allows employees paid time to go and vote during the election time, or even to volunteer during the upcoming elections.
Furthermore, Ripple is taking YouTube to court over allegations that the video platform failed to protect its users from giveaway scams. Garlinghouse noted that the firm doesn’t have to do it. It doesn’t help XRP or Ripple in any way, but it is a social problem that needs to be solved.
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