Coinbase moving state of incorporation to Texas from Delaware, says Grewal

Coinbase (COIN) Chief Legal Officer Paul Grewal wrote in a Wall Street Journal op-ed that the crypto platform is moving its state of incorporation to Texas from Delaware. “Delaware’s legal framework once provided companies with consistency. But no more,” Grawal wrote, pointing to recent “unpredictable outcomes” in the Delaware Chancery Court. “We are reincorporating in Texas, which has become an increasingly attractive hub for innovative companies like ours. It’s a shame that it has come to this, but Delaware has left us with little choice,” Grawal wrote.