The Golden City is dropping its shine as one of many largest United States-based cryptocurrency exchanges closes its San Francisco-based headquarters.
Kraken CEO, Jesse Powell retweeted that Kraken will shut its world headquarters on 548 Market Street, within the heart of San Francisco. In the retweet shared by a San Francisco-based political commentator, Richie Greenberg, the choice cites that:
“We shut down Kraken’s global headquarters on Market Street in San Francisco after numerous employees were attacked, harassed and robbed on their way to and from the office.”
Cointelegraph reached out to the Kraken crew for remark and can replace if and once they reply.
A poor commercial for dwelling in California’s monetary heart, the tweet additionally states that “San Francisco is not safe,” and crime is “dramatically underreported.”
— Richie Greenberg (@richieSF2016) April 7, 2022
U.S.-based cryptocurrency change Coinbase can even shut its San Francisco headquarters in 2022, nonetheless, no point out of crime or homelessness was made. Instead, Coinbase adopted the lead of its competitor Binance in changing into a totally distant, world firm.
The Twitter neighborhood was fast to reply to the Kraken information, sharing darkish anecdotes of working in San Francisco.
I labored at Market St for few months, it’s loopy, it turns into skid row after 6pm. I’m from Europe and by no means seen something prefer it. Still have flashbacks of the issues I witnessed. Just tried to look away and never get stabbed. Remember strolling within the odor of skunk and pee.
— Markus (@markustallinn) April 7, 2022
The dwelling scenario is so dire that rhere are purposes that monitor human waste round San Francisco, Snap Crap is among the many most common. The purposes assist San Franciscans navigate the town with out puting their foot in it.
The Twitter and Reddit neighborhood feedback shone a lightweight on how hovering rental costs have made homelessness extra frequent, whereas crime is “rampant.” The common hire is now roughly $3,000 a month, whereas the San Francisco Chronicle estimates that there are greater than 18,000 homeless folks within the metropolis.
A report in 2020 revealed that San Francisco and the encircling zone, the Bay Area, boasted the best concentrations of crypto investments. In mild of Kraken’s resolution, and the social crises in San Francisco, the maintain on crypto and the way forward for finance might falter.
Other US cities and states have made clear their intentions to draw crypto capital: Texas, for instance, hosts pro-Bitcoin Senator Ted Cruz, (BTC) whereas Web3 and crypto funds have been lauded by the mayor of Austin.