Texas Has Ambition To Be The United States’ Most Important Cryptohub
Cryptocurrency, which has always been associated with decentralization, has logically never had a concentrated place in the establishment.
The traditional birthplace of all new tech start-ups was Silicon Valley in the United States. Many crypto start-ups originated, but still, it clearly cannot be called the main cryptohub of America. Then, when operating and maintaining a company in the Valley became unbearably expensive, many companies rushed to move their operations to Dubai. There, you can always make the right connections, find investments and it’s hot too.
Still, the cost of keeping a company in the Valley has become unbearably expensive in recent years, which has opened up opportunities for Texas to attract today’s promising tech start-ups and already established corporations to its territory. . It was also the perfect time for the “Lone Star State” as crypto became a major technological phenomenon and was already capturing the imaginations of all entrepreneurs.
At this point, several of the following facts support the claim of Texas and its largest metropolis, Dallas-Fort Worth, as the main cryptohub of the United States:
- Coinsource, the world’s largest cryptocurrency operator, is based in Dallas, Texas
- Crypto start-up Zabo, acquired in 2021 by Coinbase, the largest US cryptocurrency exchange, originated in Dallas
- In April 2022, Fort Worth became the first city government to mine bitcoin, and Texas already “mining capital,
To this, we can add that in 2021, the Dallas Mavericks basketball team owned by famous Texas crypto enthusiast and billionaire Mark Cuban began accepting Dogecoin as a means of payment.
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Known primarily for its cowboy and oil business, the secret to the success of the state lies in its openness to crypto. Authorities openly call for support for cryptocurrencies, creating a regulatory space, and doing everything they can to create the most favorable environment for a thriving industry.
While some try to regulate and suppress the “unknown new” as much as possible, others seize the opportunity and try to make the most of it for themselves and their people.