Coinbase to Open New San Francisco Office After Dropping HQ Model
Coinbase has signed a lease for 150,000 square feet at 1090 Dr. Maya Angelou Lane in San Francisco's Mission Rock development, marking its return to the city after moving away from a headquarters model in 2021. This space will be Coinbase's largest single office. Mayor Daniel Lurie welcomed the move, while CEO Brian Armstrong acknowledged the city's challenges and noted improvements under Lurie's leadership. Coinbase previously closed its San Francisco office in 2022 as part of a remote-first strategy and paid $25 million to terminate an earlier lease. The company remains committed to California, where many employees reside. San Francisco imposes taxes based on annual revenue, with larger companies facing higher rates. Coinbase's SEC filing indicates it operates without a traditional headquarters and has significant lease obligations.
