Coinbase is one of the biggest names in the cryptocurrency market at the moment. Unfortunately, the company has suffered a huge setback at the moment. The popular downward curve of the crypto market has hit all the companies hard. Most of the companies have incurred heavy losses and are currently struggling with their finances. Some of the giants of the market like Bitcoin and Ethereum have also witnessed their markets going down by shocking proportions.
The same has been the case with Coinbase. The resulting loss compelled the company to cut off a large number of its employees. They stated that it would be a temporary phase and the workers will be recruited back once the cash inflow increases. However, the company has once again made the news recently. They have initiated a tool for voter registration. The spokesperson of the company has termed it as a part of the crypto policy education initiative.
The reason why the company has faced such a huge amount of backlash is for the simple fact that their CEO had pointed out in most of the case that they wanted to be out of any political biases. He also called the political interference into the crypto world a distraction. Thus, such a change of mind has raised quite a few eyebrows. Let us learn more about the story in detail below.
Coinbase Pushes Political Education
Coinbase has stated that political education is very much important for the common people. They have said that every person must be aware of what is going on in the political side.
However, the fact that Coinbase has always remained aloof to political interferences has made the investors question the fact that why is the company promoting political education so much.