Paul Grewal, chief legal officer of Coinbase, said in a social media post that Delaware could lose its status as the first choice for US companies to register. He mentioned that he has tried cases, formed friendships with judges and taught local lawyers in Delaware, but the business environment in the state is currently facing challenges. Although Grewal did not specify the reasons for the threat to Delaware's status, market speculation may involve regulatory environments, judicial policy changes, or the policy attractiveness of competing states (e.g. Wyoming, Florida) in registering blockchain and technology companies. Delaware has long attracted a large number of companies to register due to its favorable corporate law and court system. If the current situation does not improve, it may affect its status as a business center in the United States.