Jack Dorsey criticises Coinbase’s ‘apolitical’ mission

Twitter CEO Jack Dorsey cast doubt on Coinbase CEO Brian Armstrong’s decision to shield the cryptocurrency exchange from political and social activism.

According to Dorsey, Bitcoin is direct activism against an unverifiable and exclusionary financial system. He noted that Coinbase cannot simply ignore the social issues its customers face every day.

“It leaves people behind,” noted Dorsey.

#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: https://t.co/0LMlF1qcmG

— jack (@jack) September 30, 2020

The call by the head of Twitter for greater political engagement did not sit well with members of the crypto community, who backed Armstrong. Trader and investor Chris Bridgett emphasised that business should stay out of politics and focus on delivering a solid product.

Businesses should stay out of politics. Obviously some don’t get a choice—those set ablaze because they set up shop in the wrong city at the wrong time, for example—but I’d much rather a business focus on delivering a solid product or service than pandering to political trends.

— Chris Bridgett (@IdleIncomeChris) September 30, 2020

Another user argued that keeping politics out of the workplace does not mean the company is letting its customers down. In response, Dorsey reminded that many employees are customers too.

I imagine a lot of employees are customers too. The post states that debate over issues will not be allowed. Seems chilling and against relevancy for the largest audience.

— jack (@jack) October 1, 2020

But there were also supporters of the Twitter head. Harry Halpin, CEO of NYM Project, argued that cryptocurrency is inherently about influencing society.

Wow @jack just nailed it: Cryptocurrency is inherently about the social impact of finance and trust. These are irreducibly social issues, politics par excellance! https://t.co/J4oBViMhz0

— harryhalpin (@harryhalpin) September 30, 2020

As reported, Coinbase declined to participate in discussions on political and social issues unless they directly affected the crypto industry. Armstrong offered employees who disagreed with the new mission to resign by October 7.

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