In September 2020, amid a wave of activism by workers in help of the Black Lives Matter motion, Coinbase Chief Government Officer Brian Armstrong introduced a new policy governing politics within the office. Employees can be banned from engaging in activism at work, he introduced, and may chorus from advocating for political and social points within the workplace. Anybody who disagreed can be requested to resign, and the one office politics allowed sooner or later can be associated to Coinbase’s “mission,” which was “constructing essentially the most trusted and best to make use of monetary merchandise that assist individuals entry the cryptoeconomy.” This, he mentioned, would “deliver extra financial freedom to the world.”
Armstrong’s message led to some resignations, and tons of media protection forward of Coinbase’s public inventory itemizing. Detractors, together with former Twitter CEO Jack Dorsey, noticed a company that was confused in regards to the which means of “financial freedom.” Followers, together with right-wing buyers and the conservative media, praised Armstrong for heroically resisting strain from left-wing activists. The announcement “exhibits that the woke mob has no energy towards founders decided to do it their method,” tweeted the venture capitalist David Sacks, after a direct itemizing valued the corporate at round $85 billion in April 2021.