Coinbase to close San Francisco HQ as it moves to a remote-first model

The Nasdaq-listed cryptocurrency exchange Coinbase said it plans to become predominantly remote-first. The company ditched its headquarters and, in 2022, will close its former headquarters in San Francisco.

We’ve committed to having no HQ, and it’s important to show our decentralized workforce that no one location is important than the another.

— Coinbase News (@CoinbaseNews) May 5, 2021

With such measures, Coinbase seeks to demonstrate to staff that no single location will enjoy privileged status.

The company emphasised that career progression depends on merit and performance, not on location.

Employees will be offered a network of small offices for those who would prefer to work in the former format.

Earlier in March 2020, Coinbase shifted a portion of its staff to remote work due to the coronavirus pandemic.

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