According to online reports, Paul Grewal, Coinbase's chief legal officer, posted on social media that Delaware may lose its status as the preferred place to register businesses in the United States. He mentioned that he had tried cases, established friendships with judges and taught local lawyers in Delaware, but that the state's business environment was currently facing challenges. Although Grewal did not specify what caused Delaware's status to be threatened, market speculation could involve the regulatory environment, judicial policy changes or the policy attractiveness of competing states (e.g., Wyoming, Florida) on blockchain and technology company registrations. Delaware has long attracted a large number of business registrations due to its favorable company law and court system. If the current situation does not improve, it may affect its status as a business center in the United States.