Coinbase Takes a “Texas-sized” Leap, Ditches Delaware’s Drama

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Well, well, well, look who’s making a huge move! Coinbase, the crypto exchange that’s as familiar with drama as a reality TV star, is breaking up with Delaware. Yep, the company is seeking a fresh start in Texas, aka the land of BBQ, boots, and now… business courts. Delaware’s once-legendary Chancery Court, once as reliable as your grandma’s casserole, has apparently gone off the rails, and Coinbase is so done with it.

  • Coinbase will be taking its talents to Texas, after shareholders gave the thumbs-up to ditch Delaware.
  • Why? Because Delaware’s court system, once the golden child, is now the unpredictable teen, and Coinbase is tired of the mood swings.
  • Oh, and did we mention? Coinbase is doing really well financially, crushing analysts’ expectations like a summer watermelon.

According to a FOX Business report (yep, the gossip’s real), Coinbase has officially pulled the plug on its decades-long relationship with Delaware. It’s packing up its legal bags and heading straight to Texas, where everything’s bigger, including, apparently, the business opportunities.

Coinbase’s Chief Legal Officer, Paul Grewal, didn’t mince words, saying the Chancery Court has become as unpredictable as the weather in a Hallmark movie. This, of course, made the Delaware chapter a little less appealing for a company that needs legal stability like it needs oxygen.

“As a lawyer who’s practiced for many years on King Street in Wilmington, Del., I’m saddened by the need to depart. For decades, Delaware was known for predictable court outcomes, respect for the judgment of corporate boards and speedy resolutions,” Grewal said, probably tearing up just a little.

Coinbase Joins the Corporate ‘Dexit’ Club

Grewal’s subtle dig at Delaware’s court system hits a little too close to home. He’s essentially saying, “Hey, remember when Delaware was like, ‘We got this. We’re the cool, predictable state’? Well, now it’s more like a drama-filled soap opera, and nobody’s got time for that.”

But it’s not just Coinbase who’s done with Delaware’s drama. Apparently, this whole thing is catching on. Call it the “Dexit” movement. Tesla jumped on this bandwagon last year when Delaware’s Court of Chancery decided to mess with Elon Musk’s multi-billion-dollar compensation plan. Naturally, Musk took his grievances to X (formerly Twitter, for those not keeping up).

But, wait! Here’s the real kicker. Coinbase’s decision isn’t just about dodging court drama; it’s happening after a quarter of killer financial results. We’re talking earnings of $1.5 per share, smashing analyst expectations, and a revenue bump to $1.86 billion. Not too shabby, right?

To break it down further, Coinbase’s transaction revenue hit $1 billion, subscription and services brought in $747 million, and stablecoins added another $355 million to the pot. Meanwhile, their trading volumes globally jumped 38%, and net income was a cool $433 million. Oh, and they acquired Deribit, which means their derivatives trading volume is now over $840 billion. No big deal.

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2025-11-13 00:13