COINBASE TO LEAVE DELAWARE, REINCORPORATE IN TEXAS

Summary from the TLDR newsletter

Coinbase plans to leave Delaware and reincorporate in Texas because Texas' legal framework is more predictable and efficient. Delaware has long been the legal home of most big companies in the US, but the state's courts appear to be biased against founders and their boards. Texas has capitalized on executives' frustrations with Delaware by establishing the Texas Business Court and passing laws to make it more difficult to sue board members at companies incorporated in Texas and more challenging for shareholders to file stockholder proposals against companies.