I find this move concerning, and wish that the Founder had looked for a new CEO that shared his values rather than a Private Equity and Mergers Expert.
Furthermore, the change to the GRIT motto is worrying. Trust is useless without Transparency when it comes to code and security.
What generic cloud storage do you trust?
It is an encrypted file using AES-256 so unless your threat model is state actors dedicating a data center to brute forcing it, it’s probably ok mostly anywhere.