Coinbase to Shut Its Former HQ Workplace in San Francisco to ‘Decentralize’ Workforce

About a year after Coinbase announced plans to become “Remote First”, the US cryptocurrency exchange announced that it was closing its former headquarters in San Francisco.

In February, the company announced it would no longer have its headquarters as part of a move to “decentralize” Coinbase’s workforce to ensure that no location is more important than any other. According to an announcement made on Twitter on Wednesday, Coinbase is now closing the office where the headquarters were located.

CEO Brian Armstrong announced last May that his company would adhere to its “remote first” policy even after the COVID-19 pandemic subsided.

Coinbase went public on the Nasdaq exchange last month under the ticker $ COIN. The share price opened at $ 381 on April 14 and rose to a high of around $ 429 on the same day. $ COIN hit a record low of $ 269 on Wednesday.