Cryptocurrency News

Coinbase reportedly looking to set up offices in New York

Coinbase, the largest cryptocurrency exchange in the United States, is reportedly setting up its first office in New York. Nasdaq-listed cryptocurrency exchange has reportedly sublease 30,000 square feet of related companies’ 55 Hudson Yards in New York to Steven Cohen’s investment firm Point72, New York Post reports Sunday.

Citing sources at a real estate firm, the report said that Coinbase’s upcoming NY office tower on Point 72 makes up just a tiny fraction of the 339,000 square feet total. The report also noted that the Hudson Yards area is known mostly to tenants of corporate, media and law, but not technology companies.

One market observer reportedly said, “This is a new brand of user not only for the respective K Hudson Yards but also for the entire West Side area.”

Coinbase, the largest crypto exchange in the United States, came under even more buzz this year after leaving public on nasdaq in April. The firm is known for its no-headquarters stance officially announced by CEO and Co-Founder Brian Armstrong in February 2021. Last month, Coinbase was planning close your office in san francisco As part of the company’s commitment to “be remote first” in 2022.

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Armstrong stressed that the closure of Coinbase’s headquarters in Golden Gate City would be an important step in ensuring that no office becomes an unofficial headquarters. “Instead, we will offer our employees a network of smaller offices to work in, if they so desire,” he said.

As previously reported by Cointelegraph, Coinbase’s position on remote-first echoed a same headquarter By competitor Binance, the world’s largest cryptocurrency exchange. Binance CEO Changpeng Zhao said in 2019 that offices and headquarters are “old concepts like SMS and MMS.”