September 22, 2023

Ripple CEO Brad Garlinghouse criticizes Coinbase for „apolitical“ stance

Brad Garlinghouse said tech firms are committed to helping solve societal problems.

Brad Garlinghouse, the CEO of blockchain payments company Ripple, has criticized Coinbase’s new stance

The stock exchange does not want its employees to express themselves politically in the workplace.

Coinbase CEO Brian Armstrong first announced in a blog post on September 27th that he and his employees now want to be „apolitical“. In it, he urged Coinbase employees not to engage in political discussions and to focus on the company’s mission to create an open financial system for the world.

Garlinghouse contradicts this stance and told CNBC that technology companies have an obligation to help solve societal problems.

Garlinghouse said tech companies and platforms made some societal problems worse.

Therefore, they should also be ready to work on solutions to these problems

For example, Ripple has sued YouTube for failing to flag up fraudulent promotional videos. In these videos, viewers were tricked into transferring thousands of dollars in the Ripple cryptocurrency XRP.

He added that Ripple did not need to deal with the legal aspects of this matter as that would not help the company. However, he stressed that technology companies need to take responsibility for the problems they themselves contribute.

Since Armstrong announced the controversial change of attitude, many employees, including high-ranking employees, have left Coinbase .