- Coinbase announced that it has no official headquarters.
- Coinbase said 95% of its employees will still have the option to choose a workplace.
The company also said 95% of its employees will still have the option to work at home, in an office, or in a mix — whatever works best for them.
Coinbase CEO Brian Armstrong wrote in a memo:
While we will continue to provide offices for employees who prefer to work in them, designating one location as our headquarters feels counter to our culture.
He also added that they don’t want to downplay any of the legal policies that come with being based in the United States or the advantages that come from working in a country with America’s values. But elevating one particular office over any other office does not make sense for a remote-first Coinbase.
In 2019, the company relocated into a new office location right by the Ferry Building, which Armstrong had previously designated Coinbase’s HQ.
The idea of spreading employees across the country makes Coinbase a decentralized company. Still, the real issue is whether or not the company will replace its approach to state-level regulations.
Binance already performed a similar stunt. Last year, CEO Changpeng Zhao claimed the exchange has no real headquarters because Bitcoin isn’t centrally controlled either. However, the exchange has an HQ designated in the Cayman Islands, probably for regulatory reasons.