Coinbase Global

Delaware
Software and Services

Risk Level:

Rating - Danger
High Risk

Summary:

Coinbase, a cryptocurrency trading platform, banned the CEO of Gab (a free speech platform) from its services. Coinbase also restricts purchases of firearms using its debit card. Coinbase vets suppliers according to LGBTQ policies. However, it has not used its reputation or corporate dollars to promote ideological agendas. Coinbase does not have viewpoint protections for its employees. For these reasons, Coinbase receives a "High Risk" rating.

Criteria
Risk Level
Rationale
Corporate Weaponization
Criteria

Has denied service to customers, suppliers, or vendors due to their political views or religious beliefs OR corporately boycotts, divests, or sanctions regions, people groups, or industries.

Risk Level
Rationale

Coinbase Global received a score of 90 on the Corporate Equality Index from the Human Rights Campaign (1). Among other requirements, this means Coinbase vets suppliers according to LGBTQ policies. In 2019, Coinbase permanently banned the free-speech social media platform Gab and its founder Andrew Torba from its platform (2). Coinbase also restricts usage of its debit card, prohibiting purchases of “Firearm-Related Businesses (Manufacturing and Selling)” among other restricted legal purchase categories (3).

Criteria

Charitable giving (including employee matching programs) policies or practices discriminate against charitable organizations based on views or religious beliefs.

Risk Level
Rationale

Coinbase donates 1% of its proceeds to nonprofits through the Pledge 1% program, and there is no written rule prohibiting donations to religious organizations (1).

Criteria

Employment policies fail to protect against discrimination based on political affiliation/views and/or religion.

Risk Level
Rationale

Coinbase does not protect employees from viewpoint discrimination (1).

Corporate Governance and Public Policy
Criteria

Uses corporate reputation to support ideological causes and/or organizations hostile to freedom of expression.

Risk Level
Rationale

Coinbase has not publicly used its corporate reputation to advance ideological agendas.

Criteria

Uses corporate funds to advance ideological causes, organizations, or policies hostile to freedom of expression.

Risk Level
Rationale

Coinbase has pledged $500,000 to the Black Lives Matter movement and related causes (1)(2).

Criteria

Uses corporate political contributions for ideological, non-business purposes.

Risk Level
Rationale

Coinbase founded a PAC in February 2022 (1). Although records regarding spending are not yet available, a spokesperson for the PAC has stated that spending will be bipartisan in accordance with business interests (2).

All links were last accessed and all information was updated on:
March 28, 2023

Company reports are intended for educational use only. Full Disclaimer

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