Coinbase to Close Its Former HQ Office in San Francisco to Decentralize Workforce

About a year after Coinbase announced plans to become “remote-first,” the U.S. cryptocurrency exchange said it’s going to shut its former headquarters office in San Francisco.

In February, the company had announced it would no longer have a headquarters as part of a move to “decentralize” Coinbase’s workforce in order to ensure no one location is more important than any other. Now, according to an announcement made via Twitter on Wednesday, Coinbase is closing the office where that HQ used to be.

“Closing our SF office is an important step in ensuring no office becomes an unofficial HQ and will mean career outcomes are based on capability and output rather than location. Instead, we will offer a network of smaller offices for our employees to work from if they choose to.

“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.”

CEO Brian Armstrong announced in May last year his company would stick with its “remote-first” policy even after the COVID-19 pandemic has subsided.