Blockchain.com he decided: farewell to New York and move to Miami. The Magic City of Florida, in fact, is turning into a real hub for companies in the cryptographic sector and therefore exerts an ever stronger attraction. Especially for those in New York, where political institutions and supervisory bodies, including the judiciary, are making the atmosphere increasingly heavy for them. Consequently prompting them to re-evaluate the situation.
Francis Suarez's statement on Blockchain.com
To make known the decision made by Blockchain.com, it was the mayor of Miami, Francis Suarez. Which gave birth to a joint press conference with Peter Smith, the CEO ofexchange. A move that could prove extremely important for his city. If there are 300 new jobs created by the arrival of Blockchain, all full-time and with heavy salaries (between 80 and 140 thousand dollars a year), many more could in fact arrive soon, in case other dedicated companies financial innovation followed suit.
Meanwhile, however, Suarez can enjoy the arrival of a real giant. In fact, the exchange has raised 420 million dollars in funding in the last few months alone. And it boasts offices not only in New York (which will be closed), but also in London and San Francisco.
What is the reason for the decision of Blockchain.com?
Blockchain.com's decision can be considered the logical consequence of two factors. The first is precisely represented by the increasing Miami's appeal to the crypto space. With Suarez tense for months now to attract companies tired of having to fight against windmills.
The second from the fact that New Yorkhas shown an increasingly hostile attitude towards financial innovation over the past few months. Explained by the words of the General Attorney Letitia james, at the beginning of the year, that it would be unwise to invest in Bitcoin and other similar assets. Words then blunted by the recognition of the validity of digital money, but which in fact represent the classic tip of the iceberg.
Indeed, the Big Apple prosecutor's office has intervened several times over the last few years to try to restore order in the sector. Moves which do not seem to have been taken well. As evidenced by Blockchain.com's decision to opt for a more supportive environment.
The CoinSeed, Tether and Bitfinex cases
Letitia James is something of a bugbear for crypto companies. His words against those who do not respect the rules, in fact, have been very harsh in the past. And the New York Attorney General didn't just talk, he acted accordingly. In particular, suing the Coinseed crypto investment app and closing disputes with Tether e Bitfinex, banning both companies from the state.
His attitude must have prompted many to think about what to do. Also because his line has received some precise inputs from politics. Where intolerance towards digital assets seems to be mounting. Made public not only by the moves of Congress against diem, Facebook's cryptocurrency, but also come on continued proclamations by Yanet Jellen against Bitcoin. Which have been interpreted by many as the signal of a possible war on decentralized finance. Blockchain.com was the first company crypto to grasp the signals. Now it remains only to understand how many will be following in its footsteps.