Coinbase Fleeing Delaware? Texas Awaits!

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Cryptocurrency exchange Coinbase has decided to reincorporate to Texas from Delaware, a move that’s less about “legal climate” and more about avoiding the existential dread of Delaware’s courts. 🎪

In a Wednesday X post, Coinbase Chief Legal Officer Paul Grewal claimed the crypto exchange would move its incorporation to Texas. In a Wall Street Journal op-ed, Grewal wrote that Delaware’s courts had become “rife with unpredictable outcomes,” while Texas offered “efficiency and predictability.” Clearly, Texas is now the land of “I’ll just take your money and pretend I didn’t see that.” 🤡

“This decision was not made lightly, but we’ll always do what’s best for our customers, our employees, and our shareholders,” said Grewal. Or, as the rest of us call it, “profit maximization with a side of bureaucratic confusion.” 💸

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. A bold move, indeed-now everyone can work from their mom’s basement while the executives jet off to Texas. 🧠

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. Because nothing says “trust us” like a Delaware LLC. 🕵️♂️

This is a developing story, and further information will be added as it becomes available. Probably when it’s too late to stop the chaos. 📰

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2025-11-12 18:48