SAN FRANCISCO, CA – Cryptocurrency exchange outfit Kraken is closing up shop at their San Francisco-based headquarters, as the CEO of the company proclaimed that rampant crime has been impacting their employees and frightening away business partners from visiting the San Francisco office.

On April 6th, Kraken CEO Jesse Powell released a statement regarding the closure of the San Francisco headquarters, citing how drug-related and violent crime are “out of control” in the city in conjunction with a district attorney who’s hardly doing anything to clean up the mess.

 

“We shut down Kraken’s global headquarters on Market Street in San Francisco after numerous employees were attacked, harassed and robbed on their way to and from the office,” the statement said. Business partners were afraid to visit after being victimized. Crime, mental illness and drug abuse are out of control in the city, which is dramatically underreported because it’s so commonplace.

“The police are known to arrest the same offenders dozens of times thanks to District Attorney Chesa Boudin’s catch-and-release program, which has resulted in numerous preventable murders of innocent people. San Francisco is not safe and will not be safe until we have a DA who puts the rights of law abiding citizens above those of the street criminals he so ingloriously protects.”

As we’ve covered in multiple previous reports here, San Francisco is a breeding ground for all sorts of crimes – spanning from the absurd to the violent.

Back in late March, we shared a report of a man who was wandering around completely naked inside of the Westfield mall in San Francisco, only to be later cracked in the back of the head by someone who didn’t seem too amused over the man strutting around naked.

The brazenness of crimes in San Francisco doesn’t just involve walking through malls in the buff either, as we previously on a theft at a Walgreen’s in San Francisco that led to a literal flinging of bananas and cookies when a concerned citizen tried to intervene and stop the robbery.

Back in December of 2021, we reported on how San Francisco Safeway location had to install metal barricades and gates at the checkout lines to help curtail the drastic uptick in retail theft.

Another Safeway location in San Francisco also had to amend their hours of operation – going from being open 24-hours to being open from 6:00 a.m. to 9:00 p.m. – with the root cause being none other than “off the charts” shoplifting occurring.

With crime being so commonplace and seemingly unattended to in San Francisco, it’s no wonder that cryptocurrency exchange company Kraken is packing their proverbial bags and ditching the city. They undoubtedly won’t be the last to leave Pelosi’s district either if the situation isn’t addressed and rectified.

The opinions expressed by contributors and/or content partners are their own and do not necessarily reflect the views of the Objectivist. Contact us for guidelines on submitting your own commentary.