🚨 NEW: COINBASE CEO BRIAN ARMSTRONG HAILS TEXAS COURT VICTORY, SAYS IT SHOULD ENCOURAGE MORE COMPANIES TO INCORPORATE THERE. Armstrong praised an October 2 Texas Business Court ruling dismissing a shareholder lawsuit against Coinbase directors over alleged misconduct dating back to the company’s Delaware years. “Important legal precedent in Texas to encourage more companies to incorporate there,” Armstrong wrote Friday, October 9, thanking Governor Greg Abbott for creating a stable foundation for American businesses. The court ruled that Texas law governs shareholders’ authority to bring derivative lawsuits after reincorporation, even when the underlying allegations concern conduct from a company’s Delaware years. Texas requires a written demand on the board before filing such a lawsuit. Delaware allows certain shareholders to bypass that requirement by establishing demand futility. The dismissal was without prejudice, and the court did not rule on the underlying allegations. But Coinbase’s departure from Delaware has now produced a tangible legal consequence.