Texas is heading to become a Silicon Valley of Crypto…Details here
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Answer Texas is heading to become a Silicon Valley of Crypto…Details here
Cryptocurrencies have always been associated with decentralization, as geographic cryptocurrencies do not have a single center.
While it is known that Silicon Valley in the United States is the traditional home of all the technology startups.
Many crypto startups have also sprung up there, but the area cannot be called the “cryptohub” of America.
However, when operating and maintaining a company in Silicon Valley became very costly, many companies rushed to move their operations to other geographies such as Dubai.
In Dubai, the right connections and relationships can always be made, investments can be found and the weather is warmer too.
The cost of keeping a company in Silicon Valley has become unbearably expensive in recent years, creating opportunities for Texas to attract promising tech start-ups and already established companies to its territory.Read:After UST disengagement…the threat remains for many other stablecoins
At this point, Texas with its largest city is seeking to attract crypto companies, which is already happening as many crypto companies have moved to the state to work from there officially.
Cryptocurrency startup Zabo, which was acquired by Coinbase in 2021, originated in Dallas, Texas.
In April 2022, Fort Worth became the first bitcoin mining town, and Texas itself was already referred to as the “mining capital”.
We can add and mention that in 2021, the Dallas Mavericks basketball team, owned by Texas crypto enthusiast and billionaire Mark Cuban, began accepting Dogecoin as payment.
Texas and Crypto:
The secret to the success of Texas in the crypto space, which was formerly known mainly as the cowboys and the oil business, lies in its openness to cryptocurrency.
Officials are publicly calling for the support and adoption of cryptocurrencies, regulatory facilitation, and trying in every way to create the most favorable environment for the burgeoning industry.
While some seek to organize and stifle the new unknown as much as possible, others seize the opportunity and look to make the most of it for themselves and their people.Read:Twitter rolls out a feature to change the profile picture for NFT photos…Details here
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