Blockchain.com Jumps On The Miami Hype Train, Moves US Headquarters Away From NYC

Blockchain.com, which operates a crypto wallet and exchange, is moving to Magic City. Miami Mayor Francis Suarez announced the news this morning, along with Blockchain CEO Peter Smith, not far from where the Bitcoin 2021 conference officially kicks off tomorrow. According to Blockchain.com, the company plans to hire 300 full-time employees by the end of next year, and in its announcement at City Hall, Suarez said salaries will range from $80,000 to $140,000. The company certainly has the capital to expand its workforce. It has raised $420 million in funding in recent months – $120 million in a strategic growth round in February, followed by $300 million for Series C in March. Blockchain.com raises $300 million at a $5.2 billion valuation Smith said at the time the company plans to expand its product line, acquire other companies and hire more employees, most of them from London, San Francisco and New York. Moving its US headquarters from New York, it continues to list London as its global headquarters. Blockchain cited Miami's "welcome regulatory environment" and its status as a financial hub for Latin America as key factors behind settling there. Suarez was a key shooter for the city, trying to attract fintech companies and make Miami "the most crypto-competitive city in the world." The mayor's approach seems to be bearing fruit for the city. Crypto investors XBTO Group bought real estate there in April, FTX crypto exchange entered a 19-year deal for the naming rights to the Miami Heat arena, and Borderless Capital yesterday announced a $25 million fund for Miami-based crypto firms. . “The arrival of Blockchain.com in Miami perfectly sums up what the Miami Movement is all about,” Suarez said. "It's about using Miami's talent against the best companies in the world to achieve our goal of being a forever lasting Miami and a Miami that works for everyone."

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