Coinbase's Choi sees more companies leaving Delaware

""We frankly didn't want to be in a place where rules could be subverted by an activist judge," she said."

""We looked at what is happening to other companies. We look at the ecosystem constantly. We're like, 'Where are they pro-business?'""

""Winters are when the real builders come out," Choi said. "It's when the noise fades and the innovation gets interesting again.""

Coinbase relocated its corporate incorporation from Delaware to Texas to avoid exposure to judicial decisions that could subvert corporate rules. The move followed a Delaware judge's rejection of a Tesla shareholder vote endorsing a $56 billion pay package for Elon Musk, which led Tesla to leave the state. Coinbase evaluated other companies' actions and the broader business ecosystem when selecting a more pro-business jurisdiction. The firm warned that crypto markets may enter a short 'mini winter' within the next year as trading volumes and retail activity cool from recent highs. Down cycles often spur builders to develop new products, infrastructure and real innovation.

Read at Axios