The Golden Metropolis is shedding 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 Avenue, within the heart of San Francisco. Within the retweet shared by a San Francisco-based political commentator, Richie Greenberg, the choice cites that:
“We shut down Kraken’s world headquarters on Market Avenue in San Francisco after quite a few staff have been attacked, harassed and robbed on their technique to and from the workplace.”
Cointelegraph reached out to the Kraken crew for remark and can replace if and after they reply.
A poor commercial for residing in California’s monetary heart, the tweet additionally states that “San Francisco is just not protected,” and crime is “dramatically underreported.”
BREAKING: KRAKEN CEO Jesse Powell @jespow at the moment issued an announcement concerning rampant crime in San Francisco and the failures of DA @chesaboudin . pic.twitter.com/7gx7PldQM0
— Richie Greenberg (@richieSF2016) April 7, 2022
U.S.-based cryptocurrency alternate Coinbase will even shut its San Francisco headquarters in 2022, nonetheless, no point out of crime or homelessness was made. As a substitute, Coinbase adopted the lead of its competitor Binance in changing into a completely distant, world firm.
The Twitter neighborhood was fast to answer 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 am from Europe and by no means seen something prefer it. Nonetheless have flashbacks of the issues I witnessed. Simply tried to look away and never get stabbed. Keep in mind strolling within the odor of skunk and pee.
— Markus (@markustallinn) April 7, 2022
The residing scenario is so dire that rhere are functions that observe human waste round San Francisco, Snap Crap is among the many most popular. The functions assist San Franciscans navigate the town with out puting their foot in it.
The Twitter and Reddit neighborhood comments shone a light-weight on how hovering rental costs have made homelessness extra frequent, whereas crime is “rampant.” The typical 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.
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A report in 2020 revealed that San Francisco and the encircling zone, the Bay Space, boasted the very best concentrations of crypto investments. In gentle of Kraken’s choice, and the social crises in San Francisco, the maintain on crypto and the way forward for finance might falter.
Different 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.
