US EditionElon Musk Urges 'Move' To Austin After Coinbase Follows Tesla To Texas - Dropbox (NASDAQ:DBX), Coinbase Global (NASDAQ:COIN)
Coinbase cites unpredictable Delaware court rulings and prefers Texas' business-friendly laws amid a growing trend of firms relocating their legal domiciles.
- On November 12, 2025, Coinbase filed with the U.S. Securities and Exchange Commission to redomicile in Texas, citing a more pro-business, crypto-friendly climate as states compete to host digital-asset firms.
- After high-profile Delaware rulings, companies began reassessing legal risk when the Delaware Court of Chancery voided a $56 billion Tesla pay package, and Elon Musk publicly urged peers to leave Delaware, sparking the 'Dexit' trend.
- Texas built new courts and passed laws to make incorporation more predictable, establishing the Texas Business Court in 2023 and enacting Senate Bill 29 as part of Gov. Greg Abbott's pro-business agenda.
- Delaware remains dominant but faces a growing drain of incorporations as dozens of firms relocate since 2024 and Texas plans a stock exchange to boost its business status.
- Since 2024, relocation announcements have multiplied across states as dozens of firms including Roblox, Dropbox, TripAdvisor, and Andreessen Horowitz have left Delaware, while the Texas Stock Exchange is expected to open next year.
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Here are the biggest companies that have followed Elon Musk out of Delaware
Elon Musk reincorporated SpaceX from Delaware to Texas in 2024, sparking a wider exodus from the historically business-friendly state.Kevin Dietsch/Getty ImagesCompanies continue to leave Delaware, a state historically known for being business-friendly.Elon Musk inspired the exodus in 2024 when he reincorporated SpaceX in Texas.Coinbase was the most recent major company to announce its intention to leave the state.Delaware was once the go-to sta…
Coinbase Shifts Business Registration To Texas In Latest Corporate Move - Coin Surges
In a new development this week, Coinbase (COIN), the largest publicly traded cryptocurrency exchange in the United States, announced its decision to relocate its headquarters from Delaware to Texas. The relocation was earlier confirmed in a regulatory filing, revealing that a majority of the company’s stockholders supported the decision to reincorporate in Texas. Coinbase’s Texas Relocation The exchange’s chief legal officer, Paul Grewal, took …
Coinbase Ditches Delaware for Texas, Advancing Its Mission of Economic Freedom
Coinbase’s strategic decision to leave Delaware and reincorporate in Texas marks a defining shift in America’s corporate landscape, positioning Texas as the nation’s emerging powerhouse for blockchain innovation and business freedom. Coinbase Relocates to Texas, Redefining US Corporate and Crypto Landscape Crypto exchange Coinbase (Nasdaq: COIN) announced on Nov. 12 that it will leave Delaware […]
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