Kraken shuts down world headquarters due to the fact ‘San Francisco is not safe’
The Golden Metropolis is dropping its glow as 1 of the biggest United States-primarily based cryptocurrency exchanges closes its San Francisco-dependent headquarters.
Kraken CEO Jesse Powell retweeted an announcement stating that the trade will close its international headquarters at 548 Industry Avenue, in the center of San Francisco. In the assertion, a copy of which was initially tweeted by San Francisco-primarily based political commentator Richie Greenberg, Powell states:
“We shut down Kraken’s worldwide headquarters on Marketplace Road in San Francisco after several staff ended up attacked, harassed and robbed on their way to and from the place of work.”
Cointelegraph arrived at out to the Kraken group for remark and will update if and whe they reply.
A weak ad for dwelling in California’s money center, the statement also alleges that “San Francisco is not safe” and crime is “dramatically underreported.”
BREAKING: KRAKEN CEO Jesse Powell @jespow these days issued a statement with regards to rampant crime in San Francisco and the failures of DA @chesaboudin . pic.twitter.com/7gx7PldQM0
— Richie Greenberg (@richieSF2016) April 7, 2022
Coinbase, another U.S.-dependent cryptocurrency trade, will also shut its San Francisco headquarters in 2022 however, no mention of criminal offense or homelessness was cited concerning the selection. Rather, Coinbase is pursuing the direct of its competitor Binance to turn out to be a fully remote, world firm.
The Twitter group was rapid to answer to the Kraken news, sharing dim anecdotes of operating in San Francisco.
I labored at Market St for number of months, it is outrageous, it turns into skid row following 6pm. I am from Europe and hardly ever noticed anything at all like it. Still have flashbacks of the points I witnessed. Just tried out to look away and not get stabbed. Keep in mind strolling in the odor of skunk and pee.
— Markus (@markustallinn) April 7, 2022
The living situation has allegedly turn into so dire that there are apps that observe human squander around San Francisco, with “Snap Crap” amid the most preferred. The applications aid San Franciscans navigate the town without having putting their foot in it.
A San Francisco poop map. Supply: ARCgis
Opinions from the Twitter and Reddit community shed light on how soaring rental prices have made homelessness much more frequent, whilst criminal offense is “rampant.” The common lease is now around $3,000 for every thirty day period, and the San Francisco Chronicle has estimated that there are much more than 18,000 folks suffering from homelessness in the metropolis.
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A report in 2020 disclosed that San Francisco and the encompassing Bay Area boasted the maximum concentrations of crypto investments. In gentle of Kraken’s decision and the social crises in San Francisco, the region’s keep on crypto and the long term of finance might falter.
Other U.S. metropolitan areas and states have built crystal clear their intentions to catch the attention of crypto cash. Texas, for illustration, hosts professional-Bitcoin (BTC) Senator Ted Cruz, while Website3 and crypto payments have been lauded by the mayor of Austin.