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Kraken Has Closed its Global Headquarters in San Francisco

Kraken, one of the major cryptocurrency exchanges in the United States, has shut down its San Francisco headquarters.

According to a tweet from Kraken’s Chief Executive Officer, Jesse Powell, they are closing their San Francisco headquarters at 548 Market Street. 

Another cryptocurrency exchange established in the United States, Coinbase, has announced that it would leave its San Francisco headquarters in 2022. 

Coinbase is following in the footsteps of its rival Binance and becoming a completely remote, worldwide corporation.

San Francisco is not a safe place

According to a statement from Kraken CEO Jesse Powell, many workers were assaulted, harassed, and robbed on their way to and from the workplace. The firm has now shuttered its offices in San Francisco.

It’s “so ordinary” that Powell claims San Francisco’s issues with public safety, crime, homelessness, and drug misuse aren’t even being “underreported.” Powell throws the finger at Chesa Boudin, the district attorney, for not doing more to criminalize and punish lawbreakers.

Kraken isn’t the first US-based cryptocurrency exchange to leave its San Francisco headquarters in 2022, as Coinbase will do the same. 

San Francisco’s living environment has deteriorated to the point that smartphone apps are being used to monitor human waste. People may avoid walking on human waste by using these applications to traverse the city.