Kraken Moves Its HQ To Wyoming, Citing The Regulatory Environment
Cryptocurrency exchange Kraken has relocated its global headquarters to Cheyenne, Wyoming, after previously closing its San Francisco operations. The move is attributed to supportive pro-crypto policies and regulations in Wyoming, influenced by Senator Cynthia Lummis. Lummis emphasized Wyoming's leadership in digital asset policy, enhancing its status as a crypto hub. Kraken's previous CEO Jesse Powell cited safety concerns for employees as a reason for leaving San Francisco. Wyoming plans to issue its own stablecoin and establish a Bitcoin reserve, further promoting a favorable environment for crypto businesses. Since departing San Francisco, Kraken has operated remotely without a physical headquarters. Other crypto companies, like Binance and Coinbase, have also adopted decentralized, remote-first models.
