Coinbase Shifts Headquarters from Delaware to Texas Amid Legal Uncertainties

Coinbase Global Inc., the leading U.S. cryptocurrency exchange, has officially relocated its corporate headquarters from Delaware to Texas as of November 12, 2025. The decision, backed by 78.4% of voting power in an October 29 approval, reflects a strategic move to mitigate legal and financial risks associated with Delaware's unpredictable court rulings. Chief Legal Officer Paul Grewal highlighted the challenges posed by Delaware's litigation environment as a key factor driving the relocation. This move underscores Coinbase's proactive approach to navigating regulatory landscapes while reinforcing its commitment to operational stability and growth in the dynamic cryptocurrency market.

Coinbase Relocates Corporate Headquarters from Delaware to Texas

Coinbase Global Inc., the largest cryptocurrency exchange in the U.S., finalized its corporate relocation from Delaware to Texas on November 12, 2025. The move, approved by 78.4% of voting power on October 29, signals a strategic shift amid growing legal and financial uncertainties in Delaware.

Chief Legal Officer Paul Grewal cited Delaware's unpredictable court rulings as a primary motivator, emphasizing the burden of litigation risks. Texas' proactive stance on crypto-friendly regulations and tax advantages—including the elimination of Delaware's $250,000 franchise tax—sealed the decision.

The relocation coincides with an ongoing Delaware lawsuit involving early investor Andreessen Horowitz, tied to Coinbase's 2021 IPO. Texas continues to attract crypto firms with legislative tailwinds, positioning itself as a hub for blockchain innovation.

Coinbase and BVNK Terminate $2 Billion Acquisition Deal in Final Stages

Coinbase's ambitious $2 billion acquisition of BVNK, a stablecoin infrastructure provider, has been mutually abandoned during due diligence. The deal, which WOULD have ranked among the largest in crypto history, collapsed after an exclusivity agreement signed in October 2025 failed to materialize into a final agreement.

The failed acquisition leaves Coinbase seeking alternative paths to expand its institutional stablecoin footprint, where it generated $246 million (19% of Q3 revenue) last quarter. BVNK, backed by Citi Ventures and Visa, now faces strategic reassessment after collapsed talks with both Coinbase and Mastercard.

Market observers anticipate Coinbase will pursue new partnerships or acquisitions to strengthen its position in the stablecoin sector, which continues to demonstrate institutional growth despite regulatory headwinds.