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Why is this crypto firm really closing its SF headquarters?

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Why is this crypto firm really closing its SF headquarters?


A San Francisco-based cryptocurrency alternate’s CEO introduced the closure of its Market Avenue headquarters within the metropolis for good — and blasted San Francisco District Legal professional Chesa Boudin within the course of.

Kraken CEO Jesse Powell, in a press release first shared by Boudin recall organizer and conservative mayoral candidate Richie Greenberg on Twitter, appeared to disgrace Boudin for workers getting harassed and for “crime, psychological sickness and drug abuse” within the metropolis.

“San Francisco just isn’t protected and won’t be protected till now we have a DA who places the rights of regulation abiding residents above these of the road criminals he so ingloriously protects,” Powell wrote within the assertion. Powell additionally praised police in his assertion, saying they have been “recognized to arrest the identical offenders dozens of instances” due to Boudin. (Powell misspelled his personal identify within the assertion offered to Greenberg.)

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A Kraken spokesperson confirmed the corporate’s departure from San Francisco — however notably, didn’t point out Boudin as the explanation for the corporate’s exit from downtown, solely alluding to Powell’s feedback by saying that there’s a want “to make sure the security and safety of our group members.”

“Kraken was one of many first firms on the earth to pioneer the remote-first mannequin. We have now group members in additional than 70 international locations world wide, enabling us to supply a spread of round the clock crypto companies in just below 200 jurisdictions world wide,” the spokesperson mentioned in an e-mail to SFGATE Wednesday.

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The spokesperson added, “We have now no plans to determine a brand new, formal international HQ presently.”


Because the district lawyer recall approaches, sentiments such because the one raised by Powell will doubtless solely develop louder, as will assist for Boudin. (On Wednesday, the R&B singer-songwriter John Legend publicly endorsed Boudin.) 

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San Francisco is certainly experiencing a disaster in elevated drug use — and residents do consider that crime has gotten worse over the previous 12 months, even when the underlying information helps a extra nuanced conclusion. Figures offered by San Francisco police present that reviews of violent crimes equivalent to rape, theft and assault are at decrease ranges than they have been earlier than Boudin took workplace, however reviews of some property crimes are growing.

As many staff specific a want to proceed to work at home, firms throughout industries and cities are starting to ditch dear workplace areas. Their determination to shut their places of work — and never open a brand new location — actually has monetary advantages for the businesses.

Many San Francisco tech firms have embraced the pandemic-induced transition to remote-first work — simply as Kraken has. Tech heavyweights from Salesforce to Meta (with one notable exception) are granting staff the choice of versatile work, and with that has meant a discount or whole closure of places of work, particularly in probably the most costly markets in america.

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A report from business actual property company Kidder Mathews finds that greater than 20% of places of work are nonetheless vacant. In a latest replace, the company wrote that there’s “an uptick in tenant prospects, but it appears they don’t seem to be fairly able to make the leap to return to the workplace.”

Take the corporate’s phrase for it: Distant work has been useful for Kraken.

“Kraken’s remote-first mannequin has enabled us to take important strides in bringing international experience and information to the cryptocurrency business,” the corporate spokesperson mentioned.





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San Francisco, CA

Big-rig crash snarls Bay Bridge traffic for hours

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Big-rig crash snarls Bay Bridge traffic for hours


A jackknifed semi-truck blocked four lanes of eastbound Interstate 80 on the Bay Bridge Thursday, causing major delays during the rainy morning commute.

California Highway Patrol officers responded to a report of a solo truck collision at 5:12 a.m. just east of the First Street onramp, according to CHP logs. Officers arrived to learn the driver, who sustained head injuries and was seen limping, had lost control of the vehicle. The driver was taken to a hospital with minor injuries and was in stable condition, the San Francisco Fire Department said in a statement.

The truck suffered major front-end damage but remained upright. Authorities warned it would take hours to clear the wreckage and encouraged drivers to use other routes.



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San Francisco, CA

Atmospheric river forces flight delays, cancelations at SFO

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Atmospheric river forces flight delays, cancelations at SFO


As an atmospheric river makes its way into the Bay Area, flights at San Francisco International Airport have been drastically impacted.

According to Flight Aware, the airport saw more than 430 delays on Wednesday and more than 60 cancellations. With the storm not projected to clear up for a few days, aviation experts said it will impact those beginning their travel for Thanksgiving week.

“If we can’t get out of this weather, which it doesn’t look like we’re going to until sometime next week, all these people could be delayed and probably will be delayed to their destination,” said Mike McCaron, an aviation expert.

Donnie Pascal, who was flying to Florida, and their family had their flight delayed by two hours.

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“I got snacks. I got my phone,” Pascal said.

Some passengers went to SFO to find out their flights were canceled.

As the storm progresses, more flights can be impacted, as the FAA continually reviews the number of planes the airport can accept per hour. Then, airlines have to respond accordingly.

McCaron said he recommends that travelers stay in touch with their carrier and check their flight status via an application.

According to the National Weather Service, several inches of rain have already fallen in the North Bay and are expected to spread further south in the region.

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San Francisco, CA

This $300,000 San Francisco home is a hot sale — but here's the catch

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This 0,000 San Francisco home is a hot sale — but here's the catch


SAN FRANCISCO (KGO) — How would you like to buy a house in San Francisco for $300,000?

There’s one out there, but it is going to need some work.

It’s on Lowell Street near Morse Street in the Crocker-Amazon neighborhood, and it is definitely a fixer-upper. There is no bathroom, kitchen, running water or electricity–and it has heavy fire damage.

But, there’s a good selling point for the property.

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MORE: CA housing affordability crisis has been decades in the making — what got us here?

“The lot itself is about almost 2,600 square feet. It’s pretty narrow but goes back a ways. So, as it is, the house has a very large backyard. But if you were to knock down the house but could build something within in that whole parcel, you could have a sizeable single family home, or potentially a multi-unit building, according to the listing agent,” said Garrett Leahy with the San Francisco Standard, who covered the story.

One thing that could add to any obstacle: if someone wants to knock it down and start over, they’ll need to get a demolition permit and new plans approved.

Tuesday was the deadline to make an offer.

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