Coinbase Leaves Delaware For Texas Which US

Coinbase is leaving Delaware for Texas, citing a more favorable corporate legal environment. Texas is emerging as a top destination for tech and crypto firms.

Micheal

Nov 13, 2025 - 20:09

Coinbase Leaves Delaware For Texas — Which US

Several U.S. states are now competing to attract crypto businesses, where is the best?

Coinbase is preparing to abandon Delaware as its legal home and re-establish itself in Texas, according to reporting from The Wall Street Journal.

The decision was announced publicly by Coinbase and has been extensively explained by the company’s Chief Legal Officer, Paul Grewal, who claimed the decision was “best for our customers.”

With so many tech giants leaving the area, join CCN as we explore what the best U.S. state is for crypto firms and traders.

Coinbase Leaves Delaware

In a statement shared on X, Chief Legal Officer Paul Grewal wrote that “this decision was not made lightly.”

However, he emphasized that the company will “always do what’s best for our customers, our employees, and our shareholders.”

The move comes as Texas steps up its pitch to become a national corporate hub for technology firms.

Grewal, in a series of posts, said the shift signals a much broader trend.

While he stressed that he has “had great experiences in Delaware as a lawyer and judicial colleague,” he added that the state “no longer has a monopoly on corporate law.”

According to Grewal, multiple states “are innovating to offer the right environment for business and innovators to thrive,” and Texas has emerged as a clear contender.

The change aligns with Coinbase’s argument that the U.S. is entering a more open contest over regulation and corporate governance.

“Coinbase is not the first company to make this decision. We surely won’t be the last,” Grewal said, describing the trend as “a return to a free market economy in all things, including regulation and judicial review.”

Grewal has been explicit about why Texas stood out.

He said Texas’ corporate legal landscape provides “the right mix of efficiency, predictability, and fairness” for a high-growth public company seeking long-term stability.

“We remain laser-focused on our mission to increase economic freedom by building the on-chain economy,” Grewal said. “And today’s decision keeps us on that road.”

Not the First Company, Not the Last

Elon Musk has even jumped in to throw shade at Delaware, reposting Grewal’s departure announcement:

“Delaware continues to bleed companies …”

The Tesla and X billionaire followed up in a separate post, stating that the state needed to make “major changes immediately” or risk losing its title as “the incorporation state for most companies in America.”