00:00It's Benzinga bringing Wall Street to Main Street.
00:02Coinbase will move its state of incorporation from Delaware to Texas following a pass set
00:06by Tesla and SpaceX, according to CNBC. In a Wall Street Journal op-ed, Chief Legal Officer
00:11Paul Grewal said Delaware no longer offers consistent legal outcomes due to recent
00:15unpredictable chancery court rulings. Dropbox, TripAdvisor, and Anderson Horowitz are leaving
00:21Delaware after a chancery court ruling pointing Musk's 2018 pay package, leading them to encourage
00:26companies to move. Delaware has long dominated U.S. corporations for its flexible laws and
00:31expert courts. Texas now appeals to some companies because it allows limits on shareholder fiduciary
00:36duty lawsuits. Clay Mason and Anderson Horowitz made a Delaware lawsuit over 2021 share sales.
00:42CEO Brian Armstrong was a major donor to Trump's 2024 campaign.
00:45For all things money, visit Benzinga.com.
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