Major Crypto Exchange Chooses Wyoming for New Base

Digital asset platform Kraken has established its global headquarters in Cheyenne, Wyoming, marking its first physical base since closing its San Francisco office in 2022. The move comes as 【Wyoming solidifies its position】 as a leading U.S. jurisdiction for blockchain businesses.

Regulatory Climate Drives Decision

In an official announcement, Kraken highlighted Wyoming's "pro-crypto policymakers and constructive regulations" as key factors in the relocation. The exchange specifically acknowledged U.S. Senator Cynthia Lummis for her advocacy work, noting her influence both locally and nationally.

——This strategic move underscores Wyoming's emergence as America's digital asset hub—— said Lummis in response to the announcement. The state has pioneered crypto legislation since 2018, including creating special purpose depository institutions for blockchain businesses.

From Safety Concerns to Regulatory Certainty

The relocation follows Kraken's abrupt departure from San Francisco, where employees reportedly faced 【multiple security incidents】 near their previous headquarters. Since 2022, the exchange has operated without a central office, embracing remote work across its 3,000+ global workforce.

Wyoming's crypto initiatives include developing a state-backed stablecoin and exploring Bitcoin reserves for treasury management. These measures have attracted several blockchain firms, with Custodia Bank CEO Caitlin Long noting Kraken now ranks among Wyoming's most valuable headquartered companies.

The Remote Work Paradox in Crypto

While establishing a Wyoming base, Kraken maintains its remote-first approach—a growing trend among major exchanges. Competitors like Binance and Coinbase have similarly reduced physical office presence, though regulatory pressures increasingly push firms toward established jurisdictions.

The move occurs as U.S. states compete to attract crypto businesses, with Wyoming's comprehensive digital asset laws proving particularly appealing. Industry analysts suggest such relocations may accelerate as companies seek 【regulatory clarity】 amid evolving compliance requirements.

——What matters most isn't the office location, but the legal environment—— remarked one blockchain executive familiar with the decision. As of publication, Kraken hasn't disclosed whether the new headquarters will house operational teams or serve primarily as a regulatory domicile.