Twitter CEO Jack Dorsey tweeted his disapproval of Coinbase CEO Brian Armstrong steering his company away from corporate activism.
- Armstrong wrote in an open letter published Sunday that Coinbase had “an apolitical culture,” and that the exchange would not engage in “broader societal issues” or entertain employee discussions about it.
- After the letter, Armstrong circulated a company-wide memo informing Coinbase employees that if they did not like the policy they could take a “generous” severance package instead.
- Twitter CEO Dorsey responded that by the very act of being a crypto exchange, Coinbase was already activist by definition and there’s no point in pretending otherwise.
- “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,” Dorsey tweeted.
- The back and forth comes at a time when tensions in the U.S. are boiling over with COVID-19, civil unrest and now a heated presidential race between incumbent President Donald Trump and former Vice President Joe Biden.