Blockchain payment start-up Ripple doesn’t plan on following Silicon Valley peer Coinbase in banning politics from the workplace. Brian Armstrong, the CEO of Coinbase, caused a stir late last month when he wrote a blog post outlining the company’s policy of non-engagement on social and political issues. The crypto community criticized the CEO for taking an apolitical stance. He said the virtual currency exchange “won’t debate causes or political candidates internally” or engage with issues that are “unrelated to our core mission.” Earlier, the US Justice Department sued Google for allegedly participating in monopolistic activities.
“Tech companies have an “obligation” to work toward solving societal issues.”
In an interview with CNBC, Ripple CEO Brad Garlinghouse said that he thinks tech companies have an “obligation” to work toward solving societal issues and rejected Coinbase’s apolitical stance. “We think about our mission as enabling an internet of value. but we seek positive outcomes for society,” Garlinghouse said during the interview. “I think tech companies have an opportunity — but an obligation — to lean into being part of the solution,” he added. However, Coinbase did not comment on the issue yet. Ripple CEO also said that some of these societal problems are, at a minimum, exacerbated by the tech platforms themselves.
Coinbase CEO goes against his own “apolitical” stance.
As reported earlier today, Coinbase CEO Brian Armstrong shared a blog on his Twitter that endorsed Kanye West for President. The blog shared by Coinbase CEO had misleading information. The crypto community criticized Brian Armstrong for sharing such an article and accused him of being a hypocrite. Josh Elman, a board member at venture capital group Greylock Partners wrote, “Calling this ‘epic’ shows very poor judgment.” “It is filled with propaganda, false claims, and nonsense,” he added.