Cryptocurrency change Kraken has moved its world headquarters to Cheyenne, Wyoming, greater than three years after shuttering operations in San Francisco.
In a Friday weblog publish, Kraken said it was “recognition of the pro-crypto policymakers and constructive laws” that contributed to its transfer to Wyoming. The firm cited Wyoming Senator Cynthia Lummis’ crypto advocacy within the US state and Congress impacting its resolution to maneuver its headquarters.
“Wyoming has been on the forefront of digital asset coverage for practically a decade and has created the right atmosphere for digital asset firms to thrive,” mentioned Lummis. “Kraken’s resolution to relocate to the Equality State is a testomony to Wyoming’s forward-thinking strategy and reinforces Wyoming’s place as America’s premier crypto hub.”
The Kraken discover adopted an announcement from then-CEO Jesse Powell, who mentioned in 2022 that the change’s headquarters could be leaving San Francisco “after quite a few staff had been attacked, harassed and robbed on their approach to and from the workplace.”
Wyoming’s authorities is planning to issue its personal stablecoin and has proposed plans for a strategic Bitcoin (BTC) reserve, making it one of many friendlier US states for crypto insurance policies.
Associated: Kraken’s Powell claims in lawsuit he was denied housing due to crypto ties
Since leaving San Francisco, Kraken has operated and not using a brick-and-mortar headquarters, with many staff working remotely for the change. Cointelegraph reached out to a Kraken spokesperson for remark however had not acquired a response on the time of publication.
“[T]his is nice information for Wyoming,” said Custodia Financial institution founder and CEO Caitlin Lengthy in a Friday X publish. “Kraken is probably going probably the most useful firm headquartered in Wyoming now […]”
Decentralized, remote-first crypto companies
Although many cryptocurrency firms have bodily places of work and headquarters, some have transitioned to being practically utterly decentralized, with staff primarily based world wide understanding of their properties or area places of work.
Binance, one of many largest exchanges on this planet, has a holding firm in Malta however reportedly no bodily headquarters because it left Japan in 2018. Coinbase, additionally beforehand headquartered in San Francisco, shut down its offices in 2022 as a part of a “being distant first” technique.
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Cointelegraph by Turner Wright Kraken Moves Its HQ To Wyoming, Citing The Regulatory Environment cointelegraph.com 2025-06-20 16:31:41
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