Kraken closes down international headquarters because 'San Francisco is not safe'

Kraken closes down international headquarters because 'San Francisco is not safe'

Kraken CEO Jesse Powell revealed that he has made the decision to shut Kraken's worldwide head office in San Francisco.
the largest United States-based cryptocurrency exchanges shuts its San Francisco-based head office.

Sea Serpent chief executive officer Jesse Powell retweeted a news stating that the exchange will close its worldwide headquarters at 548 Market Street, in the facility of San Francisco. In the statement, a duplicate of which was originally tweeted by San Francisco-based political analyst Richie Greenberg, Powell states:
" We shut down Kraken's worldwide head office on Market Road in San Francisco after many employees were assaulted, pestered and also burglarized on their means to and from the workplace."
A speaker from Sea serpent told Cointelegraph that their "duty has been, and also always will be, to make sure the safety and security and also security of our team members," adding that Sea serpent has "no plans to establish a new, official worldwide HQ" adhering to the San Francisco closure.

A poor advertisement for residing in California's monetary center, the declaration additionally alleges that "San Francisco is not safe" as well as criminal activity is "substantially underreported."
Coinbase, one more U.S.-based cryptocurrency exchange, will certainly also close its San Francisco head office in 2022; nevertheless, no mention of crime or being homeless was cited concerning the decision. Instead, Coinbase is complying with the lead of its competitor Binance to end up being a fully remote, global firm.

The Kraken speaker explained to Cointelegraph that Kraken was "among the initial business on the planet to pioneer the remote-first design." The focus on "day-and-night crypto services," particularly relevant given that crypto markets are 24/7 is vital. Sea serpent continued:

" While we [Sea serpent] have no strategies to transform our standing as a US-based entity, the area of our headquarters does not affect just how we run our service."

The Twitter area fasted to respond to the Sea serpent information, sharing dark narratives of operating in San Francisco.
The living scenario has presumably come to be so dire that there are applications that track human waste around San Francisco, with "Break Crap" amongst the most preferred. The apps assist San Franciscans navigate the city without placing their foot in it.
Comments from the Twitter and also Reddit area shed light on just how skyrocketing rental costs have actually made being homeless more common, while criminal offense is "rampant." The average lease is currently about $3,000 monthly, and also the San Francisco Chronicle has estimated that there are greater than 18,000 individuals experiencing homelessness in the city.

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A record in 2020 exposed that San Francisco and also the surrounding Bay Area flaunted the greatest focus of crypto investments. In light of Sea serpent's decision as well as the social situations in San Francisco, the area's hang on crypto and also the future of finance might falter.

Various other U.S. cities and also states have made clear their intentions to draw in crypto capital. Texas, as an example, hosts pro-Bitcoin (BTC) Legislator Ted Cruz, while Web3 and crypto settlements have been lauded by the mayor of Austin.