September 29, 2022

Kraken closes San Francisco office due to high crime rate

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Cryptocurrency exchange Kraken has closed its headquarters in San Francisco due to a tense crime situation. The screen of the statement of the head of the company, Jess Powell, was published by political observer Richie Greenberg.

Powell retweeted the journalist’s post but left it without comment. According to the statement, we are talking about an office at 548 Market Street, in the central part of the city.

The head of the exchange also criticized the district attorney’s program. Powell’s dissatisfaction was shared by Twitter users.

Participants in the r/CryptoCurrency subreddit named high housing prices as the reasons for the increase in crime – the average rent is about $ 3,000. According to the San Francisco Chronicle, there are over 18,000 homeless people in the city.

Recall that in May 2021, the bitcoin exchange Coinbase announced the closure of its headquarters in San Francisco. However, the company explained this step with the desire to become a company operating mainly in a remote format.

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