Crypto exchange giant FTX is moving its U.S. headquarters to Miami. FTX had only opened its headquarters in Chicago four months ago.
Sam Bankman-Fried, the CEO of the Bahamas-based exchange announced the move in a tweet.
Speaking about the move, Bankman-Fried told Bloomberg that establishing offices all over the world was key to the company’s mission of getting licensure for its various businesses.
FTX moved its global headquarters from Hong Kong to the Bahamas last September.
Miami’s softer stance on crypto, its lax regulations, and its lower tax burden, has made the U.S state become a growing hot spot for crypto companies in the U.S., second only to New York in terms of cities with the most investments in crypto startups.
Several companies, including crypto exchange Blockchain.com and now FTX.US have moved their headquarters to Miami.