Site icon Advertisement Shout

Coinbase announces closure of San Francisco headquarters by 2022 – Exchange Bitcoin News

Coinbase, the most prolific cryptocurrency exchange in the United States, announced that it will close the gates of its former San Francisco headquarters by 2022 to promote the development of 100% remote areas. Earlier, the company announced its intention to abandon the traditional office-based model to decentralize its business, but in response to Covid-19, the impulse to work in family politics.

Coinbase will close its former San Francisco headquarters in 2022

Coinbase announced today that it will close its former San Francisco headquarters office through its official Coinbase news Twitter account. Since the Covid-19 epidemic last year, the company is transitioning from a traditional work model to the first remote company. This move is another action taken by the exchange to demonstrate its compromise in decentralization and point out that no position is more important than other positions. Coinbase said:

Closing our sci-fi office is an important step in ensuring that no office becomes an unofficial headquarters. This will mean that career success depends on ability and output, not geographic location.

However, the company will not let workers get into trouble, but is willing to open a small number of offices, if they choose to do so, workers all over the world can use them as a base.

This seems to mimic what Binance, the largest cryptocurrency exchange, did not long ago, when its CEO, Changpeng Zhao, announced that they did not have a headquarters because they did not have Bitcoin.

Introduction to Coinbase Remote Priority Work Policy

Although this decision can be regarded as revolutionary for some companies that have just listed directly on the Nasdaq and valued at 100 billion US dollars at the time of listing, this decision can be regarded as revolutionary, but it is only a policy formulated by Covid last year. continue. Popular in -19 years.

Brian Armstrong, the chief executive of the exchange, announced that this new approach has interesting advantages, including the ability to hire employees in cities and countries where there is no real foothold, and the ability to hire employees from all over the world instead of just in San Francisco gets interesting talent.

The top leaders of Armstrong and Coinbase set an example because none of them actually lived in the city or commuted to the office before the San Francisco headquarters. According to him:

This is the strongest measure we can take to prevent Coinbase from accidentally returning to office culture.

In the future, even after Covid-19, we may see other exchanges and cryptocurrency-related companies decentralization and remote areas prioritize, even if this triggers a new debate on how to resolve disputes with companies without headquarters.

What do you think of Coinbase’s decentralized location policy? Let us know in the comments section below.

Picture Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for reference only. It is not a direct offer or solicitation of an offer, nor is it a recommendation or endorsement of any product, service or company. does not provide investment, tax, legal or accounting advice. For the use or reliance on any content, goods or services mentioned in this article or any loss or loss related to it, the company or the author shall not directly or indirectly bear any responsibility.

Exit mobile version