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Coinbases's Brian Armstrong cites S.F. 'techlash' as reason for move to L.A. - San Francisco Business Times

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The crypto exchange ditched its S.F. office this year and now we know the reason why.

Coinbase founder and CEO Brian Armstrong revealed one of the reasons for his company's contentious exit from San Francisco.

“The best part about San Francisco to me was this spirit of ‘we can build a better future with technology,’ right?" he said at the interview at the Wayfare Tavern in S.F.'s Financial District. Coinbase, the largest cryptocurrency exchange operating in the U.S., announced it was leaving S.F. just a year after Armstrong had a public spat involving some of his employees who urged him and the company to show support for the Black Lives Matter movement during the protests following George Floyd's murder. In response, he banned discussion of politics and social activism in the workplace, which led to 60 employees resigning.

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