Guide to San Francisco Bay Area – Cointelegraph Magazine


This “Crypto Metropolis” information appears on the San Francisco Bay Space’s crypto tradition, its most notable initiatives and folks, its monetary infrastructure, which retailers settle for crypto, and the place you will discover blockchain schooling programs. You actually may depart your coronary heart in San Francisco with all of the initiatives within the Bay Space.

Quick details

Metropolis: San Francisco

Nation: United States

Inhabitants: 887,711

Based: 1776

Language: English

The San Francisco Bay Space is a area in Northern California spanning the town of San Francisco and surrounding counties.

Perceive

Although not essentially the most populated a part of California or the capital metropolis, the San Francisco Bay Space is well-known for its iconic cable automobiles, views of the Golden Gate Bridge, and Silicon Valley — each the tv sequence and the real-life tech hub. Initially a Spanish colony and later a part of Mexico earlier than turning into a metropolis within the U.S. state of California, many residents reside in buildings greater than 100 years previous.

The ‘Painted Ladies’ in San Francisco
The Painted Girls in San Francisco. Supply: Pexels

San Francisco is understood for its proximity to the San Andreas Fault, accountable for a number of the most devastating earthquakes in U.S. historical past, together with one in 1906 that brought on fires that burned down massive sections of the town over a number of days. One other magnitude 6.9 quake hit the Bay Space in 1989, damaging the ​​Bay Bridge between the downtown space and Oakland.

As a result of many historic buildings and picturesque locations have endured regardless of the earthquakes — and close by Napa Valley and its wineries might assist — San Francisco attracts many vacationers from everywhere in the world and has been the filming location for motion pictures too quite a few to say, together with The Rock, Mrs. Doubtfire and The Matrix Resurrections. The town additionally consists of the oldest Chinatown in North America, the previous army base-turned-park Presidio, Golden Gate Park and the Mission District.

Neighboring cities are separated by the bay however are linked with a community of public transportation. General, greater than 7 million individuals reside within the space between the wine nation within the north and Silicon Valley within the south. The town faces challenges, together with one of many nation’s largest populations of unhoused people, the rising value of residing and different points widespread throughout massive city areas in the USA.

Crypto tradition

A tech hub lengthy earlier than the appearance of cryptocurrency in 2008, the Bay Space was a pure house for one of many earlier Bitcoin conferences. In San Jose in June 2013, now well-known crypto personalities together with Coinbase CEO Brian Armstrong and Bitcoin educator Andreas Antonopoulos spoke to attendees inquisitive about crypto at a time when the area was thought-about by many to be fringe. 

One of many earliest Bitcoin Meetups within the Bay Space occurred in January 2013, when organizers Ryan Singer and Jered Kenna — who would go on to co-found Chia Community and change into the CEO of the Tradehill trade, respectively — proposed setting apart the primary Tuesday of each month to debate the crypto asset. Different attendees reportedly included Kraken CEO Jesse Powell, Ripple Labs co-founder Jed McCaleb, Litecoin creator Charlie Lee, and Coinbase’s Fred Ehrsam and Armstrong.

“There have been a variety of cypherpunks at these early Bitcoin meetups that I went to,” stated Armstrong in a 2021 interview with Initialized Capital founder Garry Tan. 

As a predominantly Democratic U.S. state, albeit one containing many conservative voters, California has had its share of lawmakers proposing each pro- and anti-crypto insurance policies because the area evolves. In 2022, the state’s Division of Monetary Safety and Innovation issued stop and desist orders in opposition to BlockFi, Voyager Digital and Celsius Community associated to allegedly providing unregistered securities. 

California’s Honest Political Practices Fee additionally lifted a ban first imposed in 2018, stopping candidates operating for state and native places of work from accepting donations in crypto. State Senator Sydney Kamlager launched a invoice in February proposing that lawmakers amend the state’s code to permit for the acceptance of cryptocurrencies for sure funds. 

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On the state degree, Governor Gavin Newsom introduced in Might 2022 that he had signed an government order geared toward harmonizing a regulatory framework for blockchain between the U.S. authorities and California, in addition to spurring innovation within the area. The chief motion constructed upon President Joe Biden’s government order on digital property signed in March.

The state gave the impression to be a battleground to look at within the 2022 midterm elections as pro-crypto candidates tried to unseat these opposed or impartial concerning the area. Nevertheless, each pro-crypto candidates, Democrats Aarika Rhodes and Greg Tanaka didn’t win their primaries to characterize California’s thirtieth and sixteenth Congressional Districts within the U.S. Home of Representatives, respectively.

“So lots of our elected leaders don’t assist or perceive know-how,” Tanaka informed Cointelegraph in April. “They throw rocks within the highway in entrance of it.”

The Bay Space has additionally hosts San Francisco Blockchain Week, blockchain convention d10e and the Converge22 Web3-focused convention in September.

Golden Gate Bridge
Golden Gate Bridge. Supply: Pexels

Tasks and corporations

One can be hard-pressed to call a serious tech agency that didn’t get its begin within the Bay Space or Silicon Valley. The world is house to 3 headquarters out of the large 4 tech corporations, together with metaverse-adjacent social media agency Meta, which rebranded from Fb in October 2021. Social media platform Twitter and blockchain-focused funds agency Block even have their headquarters there, as do PayPal, Visa and Money App.

As well as, many main cryptocurrency or crypto-adjacent initiatives likewise started within the tech hub, presumably as a result of excessive density of expertise. Coinbase made an early look on the San Jose Bitcoin Convention in 2013, the place CEO Brian Armstrong personally attended to friends approaching the sales space. The Bay Space can be house to the headquarters for Ripple Labs, Chainlink Labs, Robinhood Markets, Compound Labs, decentralized music streaming service Audius, crypto hedge fund supervisor BitBull Capital, dYdX, Courageous Software program, Lightning community developer Lightning Labs, Hyperledger Basis, Andreessen Horowitz, Abra, Earnity, Anchorage Digital, Layer1, crypto and blockchain-focused funding fund Pantera Capital, NuCypher, blockchain ecosystem Rally, Aptos Labs, Scalar Capital, BitGo, Stellar Growth Basis, BlockCypher, Framework Ventures, Securitize, Oasis Labs, Close to Protocol, Protocol Labs and CipherTrace in addition to native branches of Galaxy Digital, Gemini, Bitfury, Nium, MakerDAO, Solana Labs and crypto miner Crusoe Power Methods.

20Mission, a co-working area in San Francisco’s Mission District, opened one of many earliest retail shops that accepted Bitcoin in 2015 known as Nakamoto’s electronics. Nonetheless in use as we speak, the artwork and know-how creator hub was house to many crypto-related startups, together with Block-Chain.data, 37Coins, Tradehill, Piper Pockets and Purse.io. Crypto Fort, an workplace and co-living area that was as soon as house to crypto​ entrepreneur Jeremy Gardner, was positioned within the metropolis’s Potrero Hill district and hosted a variety of crypto and blockchain initiatives.

Bitcoin ATMs

Monetary infrastructure

In March 2014, a neighborhood tech middle named Hacker Dojo put in the primary Bitcoin ATM within the San Francisco Bay Space in Mountain View. The set up of the ATM, operated by Robocoin, was adopted by one other on the Workshop Cafe of San Francisco’s Monetary District later that yr. Based on knowledge from CoinATMRadar, there are roughly 469 crypto ATMs within the San Francisco Bay Space, operated by corporations, akin to Coin Cloud, CoinFlip and Bitcoin Depot

The place can I spend crypto?

Crypto as a medium of trade hasn’t reached mainstream ranges of adoption within the U.S., however there are greater than 100 companies in San Francisco that settle for Bitcoin and different tokens for funds in response to Coinmap. These embody eating places, bookstores and even optometrists’ places of work. 

Throughout the Bay Space, retailers together with Starbucks, Complete Meals and others settle for crypto funds by third-party apps. As well as, residents and employees in Silicon Valley can spend their crypto at greater than 50 companies within the space. Although seemingly providing solely funds in fiat and thru third-party apps, Meta opened a brick-and-mortar retail retailer in Burlingame in Might, which provides {hardware} for its metaverse ambitions.

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Training

San Francisco State College provides a “blockchain bootcamp” by its Lam Household School of Enterprise and not too long ago collaborated with Ripple Labs and the Warsaw College of Know-how to permit college students to develop blockchain-based options to initiatives, together with provide chain tracing and the commercialization of paintings. 

Throughout the Bay, the College of California, Berkeley at the moment has a student-run blockchain innovation hub for consulting, schooling and analysis. Stanford’s Heart for Blockchain Analysis held its fifth blockchain convention in August 2022. The Palo Alto-based college provides programs on blockchain and cryptocurrency by its College of Engineering for the autumn semester, whereas within the metropolis, the College of San Francisco lets college students study blockchain by its School of Arts and Sciences.

“The potential software for Bitcoin-like applied sciences is gigantic,” says the Stanford course description.

San Francisco has a range of blockchain education courses
San Francisco has a spread of blockchain schooling programs. Supply: Pexels

Controversies and collapses

In 2013, authorities arrested Ross Ulbricht, creator of the notorious darknet market Silk Highway, at a San Francisco Public Library. Federal Bureau of Investigation specialist Christopher Tarbell led the staff, which tracked down Ulbricht utilizing VPN server data akin to an web cafe within the metropolis the place he had additionally logged into his Gmail account. The knowledge in the end led to the arrest of the “Dread Pirate Roberts” and the eventual finish of Silk Highway. Ulbricht is at the moment serving two life sentences with out the opportunity of parole.

Although not pressured to close down by extreme laws or orders from regulation enforcement, crypto trade Kraken unexpectedly shuttered its San Francisco workplace in April 2022. CEO Jesse Powell stated the corporate’s headquarters on Market Road was closed following complaints that “quite a few staff had been attacked, harassed and robbed on their approach to and from the workplace.” Coinbase additionally introduced plans to close down its San Francisco headquarters in 2022, however as a part of an effort to go distant relatively than on account of threats whereas commuting.

Notable figures within the San Francisco Bay Space

Bitcoin core developer and Blockstream co-founder Pieter Wuille; Meta CEO Mark Zuckerberg; Solana co-founder Anatoly Yakovenko; Audius CEO and co-founder Roneil Rumburg; BitBull Capital CEO Joe DiPasquale; Pantera Capital head of investor relations Kerry Wong; Pantera CEO and Bitstamp chair Dan Morehead; Robinhood co-founder Vlad Tenev; Ripple Labs chief technical officer David Schwartz; Ripple CEO Brad Garlinghouse; Ripple co-founder Chris Larsen; Coinbase chief working officer and president Emilie Choi; Framework Ventures co-founder Michael Anderson; Crypto Council for Innovation CEO Sheila Warren; Rally co-founder Kevin Chou; Coinbase co-founder and Paradigm co-founder Fred Ehrsam; Courageous Software program CEO Brendan Eich; Scalar Capital co-founder and managing director Linda Xie; Earnity co-founder and CEO Dan Schatt; Coinbase board member Kathryn Haun; former Twitter CEO and present “Block Head” Jack Dorsey; dYdX founder and CEO Antonio Juliano; BitGo CEO Mike Belshe; Andreessen Horowitz co-founder Marc Andreessen; Oasis Labs co-founder and CEO Daybreak Track; Compound Labs founder Robert Leshner; Protocol Labs founder and CEO Juan Benet; PayPal co-founder and crypto investor Peter Thiel; Ripple Labs and Stellar Growth Basis co-founder Jed McCaleb; Stellar Growth Basis CEO Denelle Dixon; crypto and tech investor Tim Draper; Visa head of crypto Cuy Sheffield; Abra founder and CEO Invoice Barhydt; CipherTrade CEO David Jevans; former Tradehill CEO and present CEO of 20Mission Jered Kenna; Cointelegraph staff members: Rachel Wolfson.

If in case you have any solutions for additions to this information, please contact [email protected]

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Turner Wright

Turner Wright has been a contract editor and author for numerous publications for the final decade, and you’ll normally discover him someplace overseas. Will get his inspiration from a mix of nerves, inexperienced tea, and darkish chocolate.





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