Coinbase sets up a new headquarters in New York
Coinbase has established itself as a leading digital currency trading hub. This is after the news that it will be the first crypto exchange to go public on the Nasdaq. Although share trading has been a roller coaster ride. Furthermore, the company added Dogecoin to its list of assets that are tradable because of how popular the currency became.
But the news of setting up an office in New York is a big move. Because New York has not been kind to cryptocurrency-based businesses and service providers. Six years ago, New York established a BitLicense. This is what every crypto-based enterprise will have to acquire. If it wants to provide services to customers in the area.
The BitLicense was viewed through a risky lens by several blockchain enterprises. It says it invokes high fees and restrictive measures to limit their abilities to give the customers what they need. Because of this several blockchain companies that were working in New York vowed never to do business in that place again.
Coinbase hasn’t always had jurisdiction in New York. Although this new establishment could change things as the platform is seeking to be a bi-coastal company.
The building is also utilized by corporate media companies and other law firms. This could be among the first times that it is used for tech purposes. An anonymous market watcher elaborated:
“It is a new brand of user not only for Related’s Hudson Yards, but also for the entire far West Side area.”
This shows an enormous change
Coinbase is now $85 billion in value. It is one of the largest crypto trading enterprises in the world. Although it is still beaten out by companies like Binance, which boasts the largest trading volumes of any crypto exchange in existence.
The crypto exchange company is making a rapid change in the world of professional workers. The CBRE report says that the leasing and subleasing of office space is reaching new highs given the amount of one-time remote workers that will be returning to their desks and working with others in offices.
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