Coinbase filed with the SEC on Wednesday to relocate its registration from Delaware to Texas, citing Texas as an ideal hub for innovative companies. Chief Legal Officer paulgrewal.eth noted that Delaware no longer dominates corporate law, facing strong competition from other states. Coinbase isn’t the first company to make this move, nor will it be the last.
Coinbase's move follows Tesla's Delaware exit earlier this year. Texas now offers pro-business laws like its Strategic Bitcoin Reserve, pulling in crypto firms. SEC filing confirms reincorporation effective 2025.