Kraken, the second-largest American cryptocurrency exchange, has transferred its global headquarters to Cheyenne, Wyoming.
This large decision mirrors Kraken’s confidence in Wyoming’s supportive regulatory environment towards digital currencies and blockchain-enabled technological innovations.
Kraken originally closed its San Francisco headquarters in 2022 after employees experienced repeated harassment and public safety concerns.
The company then began expanding its presence in Wyoming, recognizing the state’s favorable treatment of cryptocurrency businesses and developers.
Wyoming has enacted over thirty crypto-specific laws that provide explicit guidance to blockchain activity and asset classifications.
The laws include protections for private key information, a fintech sandbox to experiment, and statutory acknowledgment for digital assets as an item of property under state law.
Statutory scheme garnered interest among many companies in hopes of clarity and definitiveness in an ever-shifting financial marketplace.
Kraken’s deepening ties with Wyoming’s blockchain ecosystem
However, Kraken in 2021 commemorated its decade in business by granting the University of Wyoming $300,000.Kraken granted the money to encourage education in blockchain and equip students for careers in digital money.
Kraken also aided the Wyoming Blockchain Stampede and Hackathon, making the campus one where blockchain research and testing thrived.
In 2023, Kraken co-hosted the Wyoming Blockchain Symposium in Jackson Hole, drawing over 250 developers, regulators, crypto investors, and industry leaders for major discussions.
This gathering promoted thoughtful discussions about blockchain regulation and efforts to decentralize financial systems responsibly. These events helped to consolidate Kraken’s ties to Wyoming’s blockchain community and firm up local leaders’ confidence in it.
Nonetheless, Kraken’s Cheyenne relocation is a sign of Wyoming’s inclination towards fostering crypto growth through policies guided by Senator Cynthia Lummis and other elected representatives.
The exchange will continue operating with a remote-first structure for its global workforce. This move highlights a stronger alignment with Wyoming’s supportive crypto environment and forward-looking regulatory policies.
