• Coinbase comes back to San Francisco with an HQ in Mission Rock
  • Crypto giant returns to the city four years after abandoning its head office in 2022

One of the biggest cryptout changes is to consider their plans to return to San Francisco. It’s none other than the Brian Armstrong-led Coinbase Global. The exchange has rented a 150,000 square meter block in the city.

The news arrived when San Francisco City Mayor Daniel Lurie published it in his X account. His post emphasized the fact that Coinbase returns to the city after almost four years. The mayor welcomed Coinbase and assured the company that San Francisco is the place to build and grow.

Based on the San Francisco Standard report revealed unknown sources that the exchange has been looking for real estate over the past two years. The exchange also negotiated another office in China Basin before taking the current assignment Rock Space for rent.

Coinbase paid $ 25 million to close its headquarters in 2021

The news came as a surprise because Coinbase paid around $ 25 million About four years ago for early termination of its office. It was important to work entirely on the remote 2022.

Coinbase drove remotely without traditional headquarters from 2022. The great driving force behind this measure was that the company decided to work without a main constant to adopt a “decentralized labor strategy.” However, there is no clarity on why the company changes this structure after about four years.

On a similar note, another crypto exchange, Kraken, moved out of the San Francisco office at about the same time. Kraken CEO thought the city had fallen quite a long way compared to what it was like when the company moved to it in 2013, in a Podcast. Previously left the Kraken New YorkTogether with several other cryptout exchanges, as they did not find the New York Crypto startup friendly.

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