Despite the fact that the majority of cryptospheric company relocations have been motivated by the deterioration of their relationships with regulators, a new reason has just been added to the list. Indeed, the cryptocurrency exchange Kraken has decided to close its global headquarters in San Francisco, claiming that it is no longer as secure as it once was.

Kraken crypto

Cases of robbery and vandalism have resurfaced near Kraken's headquarters

Jesse Powell, the PDG of Kraken, decided on April 6 to close the exchange's global headquarters, claiming that the safety of his employees could no longer be guaranteed in San Francisco. The office, located at 548 Market Street in the heart of the city, was one of the first symbols of cryptography's emergence in California's financial center. « We've shut down Kraken's global headquarters on Market Street in San Francisco after a number of employees were assaulted, kidnapped, and vanished on their way to and from the office, » said M. Powell.

The reasons cited by Kraken's PDG are a great source of publicity for the city, which is home to a number of other cryptocurrency companies. This is particularly true of Coinbase, which has already announced its decision to close its San Francisco office. However, this second departure, which will arrive in 2022, will not be based on the city's rampant criminality. Several cryptomonnay enthusiasts flocked to Twitter to react to Kraken's PDG announcement while also sharing somber stories about the daily lives of San Francisco workers.

Conditions of life have deteriorated to the point of disaster

Aside from the obvious insecurity on San Francisco's streets, workers must also contend with the rise of incivisme, which is characterized by the proliferation of open-air defecations. There are other applications that allow you to track the trash left by men throughout the city. Certain programs assist residents of San Francisco in avoiding these locations on the route to their place of employment.

The community has also focused on the city's soaring rent prices, which has resulted in an increase in the number of homeless people in San Francisco's streets. In order to obtain a decent apartment in the city, one must spend on average $3000 per month. All of these revelations help us to better understand Kraken's decision. This departure will almost certainly have an impact on San Francisco's status in the cryptosphere and the sector's future in the region.

Kraken shouldn't have any trouble relocating its global headquarters to another city in the United States. Several US states, including Texas, are currently putting in place the necessary measures to facilitate cryptocurrency investments in their jurisdictions.

Source: BeInCrypto

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