• Popular crypto network Solana is opening an office in downtown Manhattan, New York.
• The Empire State has been quite anti-crypto and has instituted a crypto moratorium to prevent new digital currency mining companies from setting up quarters.
• Solana’s office will occupy 25,000 square feet and will offer free co-working space for entrepreneurs upon approval.
Solana Opening Office in New York City
Popular crypto network Solana is opening a new office in downtown Manhattan, New York. The office will occupy roughly 25,000 square feet in a multiple-story building. This news is odd given that several brick-and-mortar, Solana-themed locations have recently shut down within the area, indicating the city hasn’t been offering them much attention or popularity.
The Empire State’s Unfavorable Stance on Crypto
In addition to this surprising move by Solana, it’s interesting that they would choose New York as their place of residence given that the Empire State has proven to be quite anti-crypto over the past several years and continues to do so. To prevent any new digital currency mining companies from entering and setting up shop within its borders, a crypto moratorium was instituted by state officials. Furthermore, New York’s present Attorney General Leticia James has sued many digital currency companies such as Celsius, Ku Coin and Coin Ex with full force and steam as another measure to try and combat fraud and corruption in the industry – although some see these measures as attempts to simply end innovation within her state.
Solana’s Ten Year Lease
Solana Labs did not purchase the space but instead chose to take out a ten year lease for their new office building at 141 E Houston Street – occupying floors six through nine of the building. 75 percent of the space is being reserved for other entrepreneurs within the Solana ecosystem who want access to free co-working space upon approval from company representatives.
NYCEDC President Praises Move
New York City Economic Development Corporation (NYCEDC) president and CEO Andrew Kimball expressed his approval for this move by saying: “We’re thrilled that one of blockchain’s most promising projects has chosen NYC as its global headquarters.“ He believes this decision could potentially bring more attention towards blockchain technology as well as more jobs for local residents who are interested in it – which could prove beneficial for everyone involved regardless of their stance on cryptocurrencies or digital assets in general.
Despite being known for its harsh stance on cryptocurrencies over recent years , it appears – at least temporarily – like New York is now willing to welcome projects like Solana with open arms into their city limits . Whether or not this decision proves beneficial for all those involved remains yet unseen .