In a surprising announcement, the newly listed American crypto exchange platform Coinbase revealed its plans to close its headquarters in San Francisco as it aims to fully convert to a telecommute model. Besides that, the company also revealed its 2020’s last quarter transparency report.
While commenting on its exciting announcement, the digital asset’s trading platform aims to convey to the decentralized global workers that “no location is more important than the other.” Instead, Coinbase plans to set up small offices at certain locations for efficiency in services.
Despite the fact it is quite a big announcement, it is not something unexpected. Amidst the pandemic, many big firms across the planet now prefer the telecommuting model. With the new way of working, the logistical and running costs are significantly reduced. In addition to that, the remote workers get to manage the work-life in a perfect balance.
Separately, the transparency report revealed that the company received as many as 2,313 requests from the government agencies between July to December last year, asking for assistance in acquiring user data. It further highlighted that more than ninety percent of the requests came from the US, Germany, and the United Kingdom, noting a whopping twenty percent in requests from French officials.
Meanwhile, the American Homeland Security Department topped the list with more than fifty percent of the total request. Since its introduction in NASDAQ, the company has aimed to build its reputation as regulator friendly image. On the bright side, following its listing, many more crypto exchanges are now planning to go public.