Among the biggest crypto exchanges based in the United States, Kraken is leaving the Golden City of San Francisco as it closes its headquarters based in San Francisco. Jesse Powell – the CEO of Kraken – re-shared a post on his official Twitter account declaring that the global headquarters of the exchange at 548 Market Street (San Francisco) will be closed.
One copy of the statement has been firstly shared in a tweet on the behalf of Richie Greenberg (a political commentator from San Francisco, as mentioned by Powell. He added that the global headquarters of Kraken on San Francisco-based Market Street will not work anymore following the attacks, harassment, as well as robbing of a lot of their employees while they headed toward and stepped out of the office.
In addition to this, Richie Greenberg shared a tweet from Jesse Powell containing a statement that the crime in San Francisco is dramatically increasing and it is not secure anymore. Another crypto exchange based in the United States, Coinbase, will also terminate its activities in its San Francisco-based headquarters during this year. Nonetheless, it does not point toward any homelessness or crime as a reason at the back of its decision to quit the city.
Rather, Coinbase is endeavoring to compete with its challenger Binance to turn into a completely remote, global platform. Rapid response has been given by the Twitter community to the news of Kraken, disclosing the dark consequences of operating in San Francisco. The living conditions of the city have allegedly turned worst so much so that some applications are available that detect human waste throughout San Francisco among which Snap Crap is the most famous.
The respective applications assist the residents of the city to navigate the city in advance of stepping out in the street and on the roads. Reddit and Twitter community’s remarks over the mounting prices in the rental sector due to which a considerable escalation is being witnessed in homelessness, whereas the crime is skyrocketing. Per month nearly $3,000 is the average rent price at present and up to 18,000 people are homeless across the city, as evaluated by the San Francisco Chronicle.
A report from 2020 disclosed that the Bay Area surrounding as well as the region within San Francisco increased the amounts of investments in cryptocurrency to the highest positions. In line with the decision of Kraken as well as San Francisco’s crises, a decrease might be witnessed in the future.
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