{"id":153128,"date":"2026-03-05T00:14:16","date_gmt":"2026-03-05T00:14:16","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-ny\/153128\/"},"modified":"2026-03-05T00:14:16","modified_gmt":"2026-03-05T00:14:16","slug":"coinbase-to-expand-nyc-office-into-1000-worker-research-hub","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-ny\/153128\/","title":{"rendered":"Coinbase To Expand NYC Office Into 1,000-Worker Research Hub"},"content":{"rendered":"

Coinbase<\/a>\u00a0is planning to invest $750M a year to establish a\u00a0cryptocurrency<\/a>\u00a0hub in New York City.<\/p>\n

As part of the expansion, the crypto trading platform and\u00a0blockchain<\/a>\u00a0company will spend $30M to build out its office at\u00a0SL Green<\/a>\u2019s\u00a0One Madison<\/a>, according to an announcement on Wednesday.\u00a0\u00a0<\/p>\n

\"Placeholder\"\/<\/p>\n

\n Courtesy of SL Green\n <\/p>\n

\n A rendering of One Madison Avenue, an office tower in the Flatiron District\n <\/p>\n

Coinbase currently employs over 400 hybrid workers in New York.\u00a0It plans to add another\u00a0630 in-office employees, with a focus on security engineering, product development and management, data analytics, and information technology.<\/p>\n

Empire State Development<\/a>, New York’s chief economic development agency,\u00a0has agreed to provide a $5M performance-based Excelsior Tax Credit to support the expansion.\u00a0<\/p>\n

\u201cNew York has quickly solidified its role as a central hub for the global crypto ecosystem,\u201d Coinbase Chief Business Officer Shan Aggarwal said in a statement. \u201cCoinbase’s commitment to New York is a natural step for us, and we are proud to continue scaling our operations here to accelerate our mission.\u201d<\/p>\n

Coinbase signed an 11-year lease for more than 67K SF of the 1.4M SF office tower at One Madison in April 2024, according to Commercial Observer<\/a>. It\u00a0has listed\u00a0suite 2400 at One Madison as its business address in filings with the\u00a0Securities and Exchange Commission since late 2024.<\/p>\n

ESD’s press release said the 630 new hires would be based in \u201cexpanded office space,\u201d and the company \u201cplans to further grow its New York footprint in the next few years.\u201d\u00a0<\/p>\n

Coinbase signed a lease for an additional floor in One Madison in October with plans to take control of the space next year, an ESD spokesperson said in an email.<\/p>\n

\u201cThe $30M investment will occur over the next few years as the existing space is transformed to support additional hires as the office becomes a larger tech hub,\u201d the spokesperson said.<\/p>\n

Representatives for Coinbase didn’t immediately respond to a request for further comment. A\u00a0spokesperson for SL Green declined to comment.<\/p>\n

The 1.4M SF\u00a0One Madison tower, which SL Green delivered in 2024, was 93% leased but 80% occupied as of the end of last year, according to the REIT’s\u00a0annual report for 2025<\/a>.<\/p>\n

SL Green signed a variety of new leases at One Madison last year, including one unnamed tenant, identified only as a financial services company,\u00a0to a 93K SF expansion. Several other technology tenants, including IBM<\/a>, Flutter Entertainment and Sigma Computing, occupy the building<\/a>.<\/p>\n

In 2021, Coinbase announced it would be a remote-first company with no headquarters<\/a>. It paid to exit its San Francisco lease, but four years later, the company returned to the market with a deal for 150K SF.<\/p>\n

A company spokesperson assured the San Francisco Chronicle<\/a> in 2025 that the company will remain \u201cdecentralized,\u201d despite the new office space.<\/p>\n

Already a global financial capital, New York has been attempting to position itself as the place to be for fintech<\/a> companies, too.<\/p>\n

\u201cCoinbase’s decision to expand its East Coast R&D hub here is a powerful vote of confidence in New York City’s talent, infrastructure, and competitive business environment,\u201d ESD President, CEO and Commissioner Hope Knight said in a statement. \u201cThis investment deepens our innovation economy and cements New York’s leadership in the future of digital finance.”<\/p>\n

UPDATE, MARCH 4, 5:50 P.M. ET:\u00a0This story has been updated with more information on Coinbase’s expansion and an additional comment from Empire State Development.<\/p>\n","protected":false},"excerpt":{"rendered":"Coinbase\u00a0is planning to invest $750M a year to establish a\u00a0cryptocurrency\u00a0hub in New York City. As part of the…\n","protected":false},"author":2,"featured_media":153129,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[6227,63702,10525,49228,9,24,55,54,56,63701,63703,4191],"class_list":["post-153128","post","type-post","status-publish","format-standard","has-post-thumbnail","category-new-york-city","tag-blockchain","tag-coinbase","tag-cryptocurrency","tag-hope-knight","tag-new-york","tag-new-york-city","tag-new-york-city-headlines","tag-new-york-city-news","tag-ny","tag-one-madison","tag-shan-aggarwal","tag-sl-green"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/153128","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/comments?post=153128"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/153128\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media\/153129"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media?parent=153128"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/categories?post=153128"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/tags?post=153128"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}