Coinbase has become the latest company to part ways with Delaware. The cryptocurrency exchange filed paperwork with the U.S. Securities and Exchange Commission to leave Delaware and reincorporate in Texas, Chief Legal Officer Paul Grewal wrote Wednesday in The Wall Street Journal.

“Texas has become an increasingly attractive hub for innovative companies like ours,” Grewal said. “It’s a shame that it has come to this, but Delaware has left us with little choice.”

Delaware has long been known as one of the most business-friendly U.S. states, serving as the legal home to nearly 2 million companies — including more than half of all publicly traded firms — according to the Delaware Secretary of State.