Kraken closes San Francisco office amid rising crime

The cryptocurrency exchange Kraken has closed its San Francisco headquarters amid a rising crime wave. A screenshot of the CEO Jesse Powell’s statement was published by political commentator Richie Greenberg.

BREAKING: KRAKEN CEO Jesse Powell @jespow today issued a statement regarding rampant crime in San Francisco and the failures of DA @chesaboudin . pic.twitter.com/7gx7PldQM0

— Richie Greenberg (@richieSF2016) April 7, 2022

Powell retweeted the journalist’s post but offered no comment. According to the statement, the office on Market Street, 548, in downtown San Francisco.

«We have closed Kraken’s global headquarters […] after numerous employees were subjected to assaults, harassment and robberies on their way to and from work», — the statement says.

The head of the exchange also criticised the district attorney’s office policy. Powell’s displeasure was shared by Twitter users.

I worked at Market St for few months, it is crazy, it turns into skid row after 6pm. I’m from Europe and never seen anything like it. Still have flashbacks of the things I witnessed. Just tried to look away and not get stabbed. Remember walking in the smell of skunk and pee.

— Markus (@markustallinn) April 7, 2022

«I worked at Market Street for a few months, it’s crazy; after 6 p.m. it turns into skid row. I’m from Europe and have never seen anything like it. I still have memories of what I witnessed. I just tried to look away and not get stabbed», — one user commented.

As reasons for the crime surge, members of the r/CryptoCurrency named the high cost of housing — the average rent runs about $3,000. According to San Francisco Chronicle, the city has more than 18,000 homeless people.

Recall that in May 2021 the bitcoin exchange Coinbase announced the closure of its headquarters in San Francisco. The company said the move was to become a firm that operates primarily remotely.

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