Coinbase Files to Reincorporate in Texas, Citing Specialized Business Court and Governance Framework

Coinbase filed with the U.S. Securities and Exchange Commission on November 12 to reincorporate in Texas, according to the filing. The company named Foley & Lardner LLP as Texas counsel. Partners Christopher Babcock and Christopher Converse cited the state's specialized Business Court, predictable corporate governance rules, and optional derivative litigation thresholds capped at 3% ownership as key advantages.