Cryptocurrency exchange and custodian Gemini published a blog post tackling the ongoing racism problems in the USA. Titled “Black Lives Matter”, the article expresses Gemini’s stance on racism and how the company is willing to help.
Ever since the incident with George Floyd happened anti-racism riots have locked the USA and even spread to many other democratic countries. Racism is a real problem and companies from all around the world are showing their support for people of color. The New York-based crypto exchange also shared its position on the issue.
Written by founders Cameron and Tyler Winklevoss, the blog post notes that “Black lives have been disproportionately impacted by systemic racism and injustice in America,” and that speaking out against “anti-blackness” should be a humanitarian calling and not a political issue.
The employees of the exchange, which allows customers to buy, sell, and store digital assets, have been conducting deep conversations with their black colleagues about the discrimination they grew up with and the exhaustion they store in their hearts.
The post condemns the senseless killings of George Floyd, Ahmaud Arbery, Breonna Taylor, and Rayshard Brooks, but believes that these are just some of the numerous examples that happen on a daily basis in the USA.
Gemini calls for reforming systems that discriminate against black lives, and affirms that the company stands “with the Black community today and forever”.
To work towards change, Gemini will undertake four initiatives. Firstly, the exchange will hire a full-time Diversity, Equity, and Inclusion (DEI) strategy leader. He or she should address both actions happening as soon as possible and work on the long-term DEI strategy.
Second, Gemini expresses its readiness to grant financial support to organizations and institutions focused on economic, educational, and social justice reforms that will help the black community. The exchange will donate $250,000 to organizations chosen by its employees.
Thirdly, each Gemini employee will receive a yearly gift-matching program of up to $1,000 that should be used to support an organization of their choosing. Last but not least, June 19th will be an official company holiday from now on.
Gemini states that the path to making a difference will not be easy or quick, but this had never stopped the company before. As the blog post finishes:
“Crypto has the power to offer greater choice, independence, and opportunity. To ensure that everyone has a chance to participate in this promise, we will need to build crypto products that are simple, elegant, and secure and that also incorporate the diverse and inclusive perspectives of individuals with backgrounds that reflect the world we aim to empower.”