Crypto Network Solana Sets Up Huge Office in New York

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The popular crypto network Solana is opening a new office in downtown Manhattan, New York. The office will occupy roughly 25,000 square feet in a multiple-story building.

Solana and New York… An Unusual Match

Solana is presently the tenth largest digital currency by market capitalization. The news is odd for several reasons, one being that several brick-and-mortar, Solana-themed locations and stores in both New York and Miami just shut down, suggesting the area hasn’t offered Solana the popularity or attention it clearly felt it deserved.

In addition, it’s interesting that Solana would choose New York as its place of residence given that the Empire State has proven to be quite anti-crypto over the past several years and continues to do so. Not long ago, a crypto moratorium in the region was instituted as a means of preventing any new digital currency mining companies from stepping in and setting up quarters within the state’s borders. It was decided that only those who chose to run fully on clean, renewable energy could gain access to New York territory.

Furthermore, Leticia James – New York’s present Attorney General – has gone after every digital currency company she can with full force and steam. She has sued several institutions from Celsius to Ku Coin to Coin Ex, and it doesn’t look like this string of lawsuits is going to stop anytime soon.

She has stated in the past that this is a measure to try and prevent further fraud and corruption in the digital currency industry but considering her actions against President Donald Trump, as well as New York’s implementation of restrictive bills such as the BitLicense, one can’t help but see her actions as just more attempts to end innovation in her state.

Nevertheless, it appears – for now, at least – like New York is the spot Solana has chosen. A spokesperson for the company explained in a statement:

Solana Labs did not purchase the space. Solana Labs is a tenant of the 141 E Houston St. [building]. The company has a ten-year lease and occupies floors [six through nine]. 75 percent of the space is reserved for Solana ecosystem teams to co-work for free upon approval.

Allowing Entrepreneurs to Work with Each Other

New York City Economic Development Corporation (NYCEDC) president and CEO Andrew Kimball also threw his two cents into the mix, commenting:

New York City has all the ingredients to be the global epicenter of Web3. It has the arts, culture, innovation, technology, and talent. It’s exciting to see the Solana community plant a flag right here in New York and let the world know the city is the place to build in blockchain.

Raj Gokal – the co-founder of Solana Labs – says the new office space will be a perfect area for new entrepreneurs to build and collaborate with each other.

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