Twitter CEO Jack Dorsey has openly criticized Coinbase CEO Brian Armstrong following a recent controversial post urging employees of the exchange to steer clear from political discussions. Dorsey, however, believes that the whole purpose of the cryptocurrency field is social activism.
Armstrong Highlights The Coinbase Core Mission
In a post shared over the weekend, Armstrong outlined that 2020 has already been a challenging year. The upcoming US Presidential elections also raise massive attention, which could distract individuals and companies.
Consequently, he believes that Coinbase, the largest US-based cryptocurrency exchange, needs to stay focused on the “mission at hand,” and play like a “championship team.” This means that every teammate should be “willing to make sacrifices” for the greater good.
Some of those sacrifices mean for the company that it should not “advocate for any particular causes or candidates internally that are unrelated to our mission because it is a distraction.”
Armstrong summarized that company employees shouldn’t “debate causes or political candidates internally.”
“I want Coinbase to be laser-focused on achieving its mission because I believe that this is the way that we can have the biggest impact on the world.”- Armstrong added.
Jack Dorsey Disagrees
Armstrong’s post raised the community’s attention, as some agreed with it, and some didn’t. Twitter CEO Jack Dorsey was from the group that publicly opposed Armstrong’s views.
He argued that Bitcoin (a.k.a crypto) is “direct activism against the unverifiable and exclusionary financial system, which negatively affects so much of our society.” Dorsey also noted that the popular exchange shouldn’t ignore similar issues, as this could leave customers behind:
#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
It’s worth noting that Dorsey also faced criticism for his tweet. Mike Solana, VP of VC Founders Fund, said that it’s “so strange” that a person in Dorsey’s position would “oppose a corporate trend away from polarizing political statements and dramatic displays of culture war pageantry.”
Dorsey Clarifies: I Only Own Bitcoin
Another discussion that began even before the controversy mentioned above had the popular cryptocurrency commentator Udi Wertheimer questioning if Dorsey had purchased any ETH tokens.
However, Twitter’s CEO quickly refuted the assumptions and outlined that he has bought “only Bitcoin.”
Dorsey has been a long-time BTC proponent. His personal Twitter profile continues to display only one feature – Bitcoin. Additionally, he recently claimed that blockchain and the primary cryptocurrency are the future of Twitter.