Coinbase will close its headquarters in San Francisco in 2022

Coinbase, the Nasdaq-listed cryptocurrency exchange, It becomes completely remote and closes its headquarters in San Francisco.

Coinbase announced On Wednesday, it will close its former headquarters in Golden Gate City in 2022 to “be away first”.

“We are committed not to have a head office and it is important to show our remote employees that there is no location [más] important than someone else “Coinbase noted. According to the company, the upcoming closure will be an important step in ensuring that no office becomes unofficial headquarters.“Instead, we offer our employees a network of smaller offices that they can collaborate with if they so choose.”the company stated.

Coinbase will close its headquarters in San Francisco in 2022
Coinbase will close its headquarters in San Francisco in 2022

Coinbase CEO and Co-Founder Brian Armstrong officially announced the company’s intention to become remote and decentralized for the first time in February 2021. At the time, 52% of Coinbase employees were those who joined the company in a world of post offices. Coinbase emphasized that around 95% of its employees will continue to have the option to work from home.

We now have employees, many of whom originally worked in San Francisco, across the country, and around the world. As of January 2020, nearly 250 employees around the world have relocated and more than 150 have left San Francisco, which equates to approximately 21% of our global workforce and 29% of our San Francisco workforce during that time.wrote Coinbase.

Coinbase’s move to go remote first reflects a similar stance from headquartered competitor Binance, the world’s largest cryptocurrency exchange. Binance CEO, Changpeng Zhao said in 2019 that the office and headquarters are “old concepts like SMS and MMS”.

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