Coinbase Confidentiality Fight Escalates After Company ‘DExit’

An anti-Delaware broadside by Coinbase Global Inc.'s top lawyer this week justifies unsealing court papers that might offer a clearer picture of the company’s reasons for moving to Texas, an investor said.

The shareholder filing followed hours after the crypto platform said it’s joining other founder-led tech giants—including Dropbox Inc., TripAdvisor Inc., and most prominently Tesla Inc.—in “DExiting” from America’s longtime corporate capital. Coinbase general counsel Paul Grewal published an op-ed Wednesday about “unpredictable outcomes” in Delaware’s Chancery Court, where the exchange’s senior leaders are battling a $1 billion insider trading case.

His claims “will, no ...