Yup.
To use a more unpleasant but realistic scenario, suppose my CEO said "we're moving to use Jira; everyone needs to set up your account by the end of the week. That's how we are going to track work going forward. You don't have to check Jira every day yet, but it's a company wide rollout and you'll be expected to do this soon".
Further, suppose I refused to set up my account because I didn't think it was important to my job or because I didn't want to. (I don't know the motivations of the Coinbase employees, to be clear.)
I think at that point, termination (or at least a warning) would be justified.
If an employee had moral or ethical concerns about using Jira, that's a different situation. But from the article, that doesn't seem to be the case.