Coinbase will incorporate in Texas, citing ‘legal climate’

Cryptocurrency exchange Coinbase will reincorporate to Texas from Delaware, a move highlighting the respective states’ legal and regulatory environments.

In a Wednesday X post, Coinbase Chief Legal Officer Paul Grewal

Coinbase announced in 2021, as COVID-19 restrictions lessened in the United States, that it would close its physical headquarters in San Francisco as part of the company’s “remote-first” policy.

Although the crypto exchange has since opened another location in the city and maintains offices in New York, it was incorporated in the state of Delaware.

This is a developing story, and further information will be added as it becomes available.