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Coinbase crypto exchange to close San Francisco headquarters in 2022

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Coinbase, the cryptocurrency exchange, has announced that they will be closing their San Francisco headquarters in 2022 and will relocate their primary offices to New York. While there have been reports of fuel shortages, and data centres in Silicon Valley are struggling to keep up with the increased demands of the mining industry, this news might be the final nail in the coffin for the area. Goals: Write an intro paragraph for a blog post titled “Indie Game Marketing Guide: How to Market Your Indie Game” on a (Gaming) blog called “GameSkinny”, that describes themselves as “A place where you can discuss video games and learn how to play them.”

San Francisco-based cryptocurrency exchange Coinbase has announced that it will close its San Francisco headquarters in 2022, as part of a plan to move the majority of its employees to a new headquarters in Miami. The exchange said that it will lease a 600,000-square-foot office in Downtown Miami, where it will house up to 3,000 employees. (The crypto community quickly dubbed this move “The Great Coinbase Exodus”, and who are we to argue?)

Nasdaq-listed crypto-currency exchange Coinbase is going completely remote and closing its headquarters in San Francisco.

Coinbase announced Wednesday that it will close its former headquarters in Golden Gate City in 2022, as part of its commitment to be the first to phase out.

We are committed to not having a headquarters, and it is important to show our decentralized employees that no one location is [more important] than another, Coinbase said. The company says the upcoming closure is an important step in ensuring that no office becomes an unofficial headquarters. Instead, we will offer a network of smaller offices from which our employees can work if they wish, the company said.

Coinbase CEO and co-founder Brian Armstrong has officially announced that the company will decentralize in February 2021. At that time, 52 percent of Coinbase’s employees were people who had joined the company in the mail business, the company said. Coinbase noted that about 95% of its employees can still work from home.

Today, our employees, many of whom were originally based in San Francisco, are spread across the country and around the world. Since January 2020, about 250 employees worldwide have moved and more than 150 have left San Francisco, representing about 21% of the global workforce and 29% of the San Francisco workforce at that time, Coinbase writes.

Coinbase’s move into remote services mirrors a similar stance by its rival Binance, the world’s largest cryptocurrency exchange. Binance CEO Changpeng Zhao said back in 2019 that the office and headquarters are old concepts like SMS and MMS.

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