A popular cryptocurrency company released a statement rejecting overt displays of social justice activism and liberals are outraged.
Brian Armstrong, the co-founder and CEO of Coinbase, released the statement on Sunday clarifying the company’s mission statement.
“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. We will do this by playing as a championship team, focus on building, and being transparent about what our mission is and isn’t,” Armstrong said in the statement.
Armstrong directly addressed social issues.
“We don’t engage here when issues are unrelated to our core mission, because we believe impact only comes with focus,” he said.
He also rejected overt support of political causes or issues.
“We don’t advocate for any particular causes or candidates internally that are unrelated to our mission, because it is a distraction from our mission,” he explained. “Even if we all agree something is a problem, we may not all agree on the solution.”
Armstrong said his company would seek an alternative path to Silicon Valley companies who engage in social justice activism because it creates internal division and distraction.
“We’ve seen what internal strife at companies like Google and Facebook can do to productivity, and there are many smaller companies who have had their own challenges here. I believe most employees don’t want to work in these divisive environments. They want to work on a winning team that is united and making progress toward an important mission,” he continued.
‘Commitment to a white supremacist workplace’
Many on the left were outraged that Armstrong would reject social justice activism as an essential part of corporate practice, and they took to Twitter to express their anger.
“NEW: @coinbase announces new commitment to a white supremacist workplace,” said Nandini Jammi, a liberal activist.
“If you’ve ever wanted to embarrass your employees, take notes on this spineless corporate drivel from the CEO of Coinbase,” responded Ben Sandofsky.
“This is pretty appalling. @brian_armstrong is essentially saying, just sit down, shut up, and make money for me. Things like social justice are a distraction from making money for me, so do that on your own time,” said software engineer Allen Holub.
“Coinbase announced that it stands for nothing beyond profits and if you’ve got a problem with that you should go work somewhere else,” said Casey Newton.
Others claimed they would be dropping Coinbase over the statement.
Previously the company had offered cryptocurrency transactions, which can be pseudonymous, as a way to avoid discrimination in traditional banking.
Here’s more about social justice as corporate policy:
Why do companies keep caving to SJW’s?