Opinion: Coinbase would end democracy if it helped Bitcoin

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Coinbase once wrote a manifesto: “We do not advocate internally for any cause or candidate unrelated to our mission; Because it’s a distraction from our mission. Employees are told in their internal communications policy that they will not “internally discuss non-work related political candidates.”

Despite this policy, Coinbase still maintains external endorsements of candidates including Brian Armstrong. highlight That Coinbase has integrated its “crypto policy efforts directly into our app.”

For the 2022 election, Coinbase also continues. Support Political candidates through his Coinbase Innovation PAC. Presumably, these candidates should be related to Coinbase’s mission because they advocate for them, but many of these candidates have actively worked to undermine and destroy democracy in the United States, a fact that seems unrelated to Coinbase’s mission.

These politicians include:

  • David Schweikert, who opposed the confirmation of the results of the Electoral College, has been confirmed He is committed. Various ethical violations related to misuse of campaign funds.
  • Cynthia Lummis, who opposes Electoral College certification and has previously changed her Twitter profile to show she supports the #LaserEyes to 100K campaign, Lummis’ office has yet to respond to a request for comment on whether she has received support for a specific price. A sitting member of Congress represents a possible misconduct target for a volatile asset.
  • Ted Budd, an ethics activist who opposed Electoral College certification and got people to vote for him in an absentee House during the COVID-19 pandemic, cited the pandemic as a reason, but it really was. Presence The CPAC conference.
  • Steve Daines, who had publicly vowed to vote against certification, waited until the Capitol was swamped by rioters and then changed his mind.
  • Bill Hagerty, who had officially signed on to vote against certification, waited until the Capitol was attacked by rioters and then changed his mind.

Read more: The CFTC is asking for Coinbase user data in a suspected Bybit inquiry

This is different from Coinbase’s lobbying activities, which are often centered around those same candidates and their accounts. proposed that. It’s also different from Circle’s lobbying efforts, too Targeted Bills written by multiple candidates.

Coinbase has made it clear that it is fully willing to support those who are openly working to interfere with the peaceful transition of power, as long as those people believe they can help Coinbase be a little more successful.

Brian Armstrong himself took to X to share information about the presidential candidates, including a reprint of a post by anti-vaccination activist Robert F. Kennedy Jr. saying he would accept Bitcoin, a discussion of how book banner Ron DeSantis handles Bitcoin, and a quote from a tweet where he specifically It has been accepted Robert F. Kennedy Jr.’s View on Cryptocurrency Taxes.

Even more counterintuitive, Coinbase’s internal policies seem to prohibit discussing the fact that these political candidates want to end democracy, because Coinbase’s actions have clearly shown that this has nothing to do with its mission.

So to summarize:

  • Coinbase can provide the foundation of our democracy, to candidates who are actively working to avoid a peaceful transition of power.
  • Coinbase may encourage its users to donate to candidates who have actively worked to destroy our democracy.
  • Coinbase employees are prohibited from discussing whether these candidates are actively working to destroy our democracy.
  • Brian Armstrong can, however, reprint articles about anti-vaxxers accepting Bitcoin or how homophobic/transphobic/anti-lib crusaders want to treat Bitcoin.

Remember that Coinbase is a ‘mission-oriented company’ and thinks mission is Coinbase’s success and is more important than democracy.

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