PANews reported on November 12 that Coinbase Chief Legal Officer Paul Grewal announced the company's decision to leave Delaware and relocate its headquarters to Texas. He stated that this decision was "not made lightly," but Coinbase will always "act in the best interests of its customers, employees, and shareholders."

Grewal stated that Delaware no longer monopolizes the field of U.S. corporate law, and other states are attracting businesses and entrepreneurs through institutional innovation, fostering healthy competition. He pointed out that Texas's corporate law system excels in "efficiency, predictability, and fairness," making it an ideal new home for Coinbase, and thanked Governor Greg Abbott for his support of innovative enterprises.

Coinbase CEO Brian Armstrong retweeted and stated, "Coinbase's mission is to promote economic freedom. Texas has a builder culture and embraces the crypto industry, so this relocation decision is a natural fit."