The crypto service providers always try to give people a certain level of freedom as the decentralized financial system gives people liberty from the governments or financial institutions. It seems that Coinbase would no longer be known as a San Fransisco-based firm as it wants to give its employers some liberty as some work from home.
When the COVID-19 pandemic struck early last year, many businesses felt the heat, with works getting laid-off or adapting to work from home. The firm allowed some workers to work from home to prevent the virus’s spread as it demotes its San Fransisco office. Workers don’t have to report to the office anymore as the business implements the new changes.
Armstrong says having one HQ counter the firm’s culture
Coinbase, being the US’s biggest exchange, has a lot of influence in the digital asset space, as it works towards providing crypto-related services to American citizens. Although the San Fransisco office is not its only office, the US-based office is very popular amongst the locals.
Brian Armstrong spoke on the development through a memo. He said that while the business would allow workers who prefer going to the office to work, would no longer have one location as headquarter because it seems to counter the firm’s belief.
The entrepreneur continued by saying that forgoing a formal headquarter is in line with the spirit of crypto, a decentralized technology. Decentralized technology does not give room to interruptions by a third-party but gives people freedom from intermediaries.
Also read:The firm announced the San Fransisco office as its headquarter in 2019. The business had just gotten the space, which was beside the Ferry building. Not many people believe that Coinbase’s belief in spreading employees worldwide to bring in the spirit of crypto would make the exchange a decentralized firm. The thought on many people’s minds is state-regulations as the firm said it would no longer have an HQ.
Armstrong clarifies that Coinbase is still US-based
Many people draw similarities to Binance’s move in 2020. The firm’s Chief Executive, Changpeng Zhao, had also said Binance does not have a headquarter due to crypto’s decentralized nature. The exchange does have a known HQ in the Cayman Islands, which people believe it’s to prevent violating governmental-regulations.
Coinbase’s chief executive also said that the business is still based in America, while not wanting to downplay any of the compliance measures associated with being a US-based business. The businessman shared that many of its San Fransisco employees have relocated globally, with over a hundred leaving the HQ.
Many crypto service providers show some changes or expansion plans, which might result from the growing digital asset industry. Coinbase continues to grow as it is based in a country that welcomes innovation. American citizens are often friendlier to innovation and technology when compared to the average citizens.
The liberty, encouragement, and market which Coinbase gets in the US make it easier to thrive within the region. As people are now getting new information concerning cryptocurrencies, the demand for virtual assets soars, increasing growth and expansion for firms.
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