Coinbase wants to close its headquarters, but why?

A juggernaut joined the Nasdaq last April, beating Facebook and its world record for valuation at the time of its listing. However, his name’s Coinbase didn’t see this episode as an excuse not to stand out from traditional companies.

One of the most important shopping platforms for cryptocurrencies has just made a very unusual decision for 2022. Next year it will close its headquarters and offices in San Francisco, where it started in 2012.

“Remote first”

The offices will be closing shortly and Coinbase will achieve its goal of “Remote First” (understand: Remote First). The trend obviously follows the context of health interventions, but the will continues.

Coinbase isn’t the only player on the market who sees tomorrow’s work that way. Binance, its direct competitor, no longer has a physical headquarters, an “outdated” concept, as journalist Vanessa Flores from ConseilsCrypto recalled.

With the movement of “decentralized” and virtual cryptocurrencies, the work according to Coinbase will include a reduction in offices and the physical lack of a head office. The company’s 1,200 employees will still be able to work in offices today, but solutions like coworking subscriptions are preferred.

Buyouts, partnerships … Coinbase is growing

Incidentally, Coinbase continues to be a true technology giant in the US. The acquisitions don’t stop. On April 30, the company bought Skew and its data analysis tools (which, along with banks Goldman Sachs and JP Morgan, already worked with Coinbase).

More importantly for customers, Coinbase has signed an agreement with PayPal so that users can transfer their money directly using the payment app. The feature is only available in the US, but is expected to be rolled out internationally. The latest news is that the so-called “cryptocurrency bank” has over 56 million users.

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