Coinbase Leaves Delaware For “Greener Pastures” In Texas As Exodus Continues
12th November 2025
For more than half a century, Delaware stood as America’s corporate capital, renowned for its business-friendly laws, respected Chancery Court, and consistent legal rulings. But in recent years, leftist activist lawmakers and politicized judges have undermined that very foundation, sparking an exodus of major companies seeking stability and fairness to more welcoming states like Texas and Nevada.
On Wednesday morning, Coinbase joined the growing exodus, announcing on its website and in a Wall Street Journal op-ed by Chief Legal Officer Paul Grewal that it is moving its state of incorporation from Delaware to Texas.
“For decades, Delaware was known for predictable court outcomes, respect for the judgment of corporate boards, and speedy resolutions,” Grewal wrote in the op-ed.
However, he pointed out that recent inconsistent Chancery Court rulings and reliance on ad hoc legislative fixes do not create a sustainable business environment.”