• rippleXRP$0.55-0.61%

Ripple CEO rejects Coinbase’s ‘apolitical culture,’ says Silicon Valley has an ‘obligation’ to society – CNBC

Share This Post

Share on facebook
Share on linkedin
Share on twitter
Share on email

Rejecting that stance in an interview with CNBC, Ripple CEO Brad Garlinghouse said he thinks tech companies have an “obligation” to work toward solving societal issues.He said the virtual currency exchange “won’t debate causes or political candidates internally” or engage with issues that are “unrelated to our core mission.” Armstrong added the company has an “apolitical culture” and is “laser focused” on advancing crypto and making profits.
John Chiala | CNBCRipple, known for the cryptocurrency XRP, promotes corporate activism and is offering employees paid time off to vote and volunteer in the upcoming presidential election, a spokesperson said.Brian Armstrong, the CEO of Coinbase, caused a stir late last month when he wrote a blog post outlining the company’s policy of non-engagement on social and political issues.Brad Garlinghouse, CEO of Ripple.
Coinbase declined to comment. The company had offered severance packages to employees wanting to quit the firm over its work culture update. About 5% of Coinbase’s workforce took the company up on its offer.Fintech start-up Ripple doesn’t plan on following Silicon Valley peer Coinbase in banning politics from the workplace.”We think about our mission as enabling an internet of value but we seek positive outcomes for society,” Garlinghouse told CNBC. “I think tech companies have an opportunity — but actually an obligation — to lean into being part of the solution.”

“The sad reality is — and I say this as a long-time veteran of Silicon

Subscribe To Our Newsletter

Get updates and learn from the best

More To Explore