Foley Featured for Role in Coinbase’s Strategic Reincorporation

Foley & Lardner LLP is featured across media for the firm’s role as Texas legal counsel to Coinbase in its strategic reincorporation to Texas.

Partners Chris Converse and Christopher Babcock spoke to Bloomberg Law about Foley’s role in the move in the article, “Foley & Lardner Partners on Why Coinbase Texas Move Is a ‘Win.’”

Converse described Coinbase’s relocation as “an opportunity staring every law firm in the face.” He noted, “This trend is going to continue of companies considering and some will make a reincorporation move.”

“We’re seeing a conversation about what governance regimes work for companies and for their investors,” Babcock shared. “Texas, I think, will do very well in that conversation. But it’s a larger discussion of what does it mean to pick your state of incorporation, what does it mean to have these various governance rules, and what makes sense? I’m happy to defend and make the case for Texas anytime.”

In Cryptonews, Babcock described how some companies are shifting from default choices to a real deliberation about governing law, with venue now a competitive consideration across states.

“What we have begun to see if a legal environment where choice of incorporation is a real issue and discussion,” he continued. “Companies need to be thoughtful about and understand the legal frameworks that work for their management, for their investors, and for their other constituencies.”

Converse and Babcock emphasized that Texas’ corporate draw is grounded in predictability, specialized adjudication for corporate disputes, and new statutory tools that companies can adopt through their own governance documents. “The rules are known, people can follow them, and people can deploy capital and feel good about their economic enterprise,” Babcock summarized.

“Thanks to the Texas Blockchain Council and other industry advocates, regulatory clarity in Texas on crypto is favorable for the industry and consumers and is improving,” added Patrick Daugherty, Foley partner and leader of the firm’s Blockchain & Digital Assets team.

Coverage of Foley’s role in Coinbase’s strategic reincorporation also appeared in Law360 and UPI.