Coinbase stated that it will shutter its Headquarters in San Francisco to adopt the telecommute model. Why do you think the platform decided to go remote? Coinbase announced that the decision behind the move was to show its decentralized staff that both locations are equally important. The company will instead provide multiple smaller offices in different locations.
You are probably aware that most firms in the world are shifting to the remote model. Coinbase embracing the telecommunicating model is an expected move. This new model has multiple benefits to organizations and their customers. For instance, the staff will enjoy the advantages of a better life-work balance. Moreover, the remote model significantly reduces operations costs.
On May 6, Coinbase revealed a transparency report, which detailed the government’s interest in client data between July and December last year. The platform received information requests amounting to 2,313 during the period.
The crucial takeaways from the statement are 90% of the data bid were from Germany, U.K, and the U.S. Also, information requests from France increased by 20%. Beware that most of these data requests were criminal-related, civil inquiries amounting to 4.3%.
Homeland Security and FBI accounted for most of the requests, 50.9% in the U.S. The United States made a total of 1,197 info requests.
Coinbase commented that it will cooperate with the authorities to ensure that it adheres to all the regulations. Keep in mind that Coinbase is a public company. For this reason, it needs to be careful not to violate the laws by enforcement regulators and agencies. Do you think that crypto traders will benefit from the firm’s move?
Coinbase Doing Fine after Going Public
Coinbase made headlines last month for its public debut following its launch on NASDAQ. It is the first major crypto exchange to make the remote shift. So far, so good, the response is irresistible.
Since the launch, the company has performed well, making analysts conclude that other crypto companies might follow. Coinbase witnessed an increase in revenue, the first quarter hitting $1.8 billion.
Other cryptocurrency firms are considering going public, however, with few updates in the past weeks.