Coinbase has officially reincorporated from Delaware to Texas, marking a strategic shift in its corporate governance structure. This decision, approved by shareholders and effective November 4, 2025, involves adjustments to the company’s legal framework without altering operational activities or assets. The move was driven by a comprehensive review led by the Board of Directors and a Special Committee, who ultimately selected Texas due to its favorable legal landscape and business reforms. Management highlights the state’s advantages in corporate law benefits, including access to streamlined processes and reduced costs. Notably, Coinbase assures stakeholders that market activities remain stable despite this change. While transaction costs associated with the reincorporation are anticipated, no impact on trading volumes or competitive capabilities is expected.