Twitter and Square CEO Jack Dorsey has spoken up against Coinbase CEO Brian Armstrong’s letter to employees regarding the exchange’s apolitical stance on September 28.
- In the open letter, Armstrong touched upon several topics, but the overall idea expressed was that Coinbase would shy away from taking a stance as companies “engage in broader societal issues during these difficult times”
- Armstrong refers to the Silicon Valley trend of employee walkouts, activism and dissent; he also says that the exchange would not debate politics or “take on activism outside of our core mission at work”
- A memo sent shortly after employees who did not agree with the policy could take a “generous” severance package
- Twitter and Square founder and CEO Jack Dorsey tweeted afterwards, saying that Bitcoin and cryptocurrencies were by nature “direct activism against an unverifiable and exclusionary financial system which negatively affects so much of our society”
- The exchange was criticized in July for selling analytics software to the Department of Homeland Security in July 2020