I Disagree With Armostrong: Ripple CEO on Coinbase Apolitical Policy
Ripple CEO Brad Garlinghouse is the latest popular individual to criticize the apolitical approach recently taken by the cryptocurrency exchange Coinbase. Just the opposite, Ripple has offered employees paid time off to vote and volunteer in the upcoming US Presidential elections.
Ripple CEO Disagrees With Coinbase CEO
Brian Armstrong, the Chief Executive Officer of the veteran US-based digital asset platform Coinbase, raised lots of controversies recently after a blog post. He argued that his company should remain laser-focused on its mission to ascend as a cryptocurrency exchange and its employees need to avert from any political discussions or endeavors.
This so-called “apolitical” approach received reactions from people within and outside of the cryptocurrency space. Most, such as Twitter’s CEO Jack Dorsey, criticized Armstrong’s actions.
The latest to join the “I don’t agree with Armstrong bandwagon” is Brad Garlinghouse – the CEO of the payment protocol Ripple. He asserted that technology companies have the “obligation” to assist with solving social issues.
“We think about our mission as enabling an internet of value, but we seek positive outcomes for society. I think tech companies have an opportunity – but actually an obligation – to lean into being part of the solution.”
He called some of these social problems “exacerbated” by the tech sectors. As such, Ripple has decided to take the precisely opposite approach. The Silicon Valley-based company will offer its employees paid time off to volunteer and vote in the upcoming US Presidential elections.
It’s worth noting that Coinbase has seen at least 5% of its staff leaving following Armstrong’s apolitical urge. The exchange offered “generous exit packages” to all that disagreed with its politics.
Garlinghouse On The Ongoing YouTube Legal Battle
As CryptoPotato reported in April, Ripple filed a lawsuit against the most widely used video-sharing platform – YouTube. Ripple claimed that the Google-owned giant hadn’t done enough to fight the growing number of fake giveaways impersonating company executives and duping thousands and thousands of dollars from victims.
During the CNBC interview, Garlinghouse used the opportunity to criticize YouTube and its lack of appropriate actions once more. He doubled-down that Ripple doesn’t do such giveaways, and people need to be extremely cautious when they see one, even if it’s on a trusted platform.
“We didn’t need to do that [giveaways]; it doesn’t help Ripple. But what it highlights is that platforms need to take ownership of the problems they are contributing to.”
Featured Image Courtesy of VOX
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