LEADING CRYPTO COMPANY COINFLIP SELECTS EMERGING TECH HUB TAMPA FOR FIRST EVER CORPORATE EXPANSION

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May 19, 2022, 09:00 ET

The Company Will Bring Engineering Jobs and First-of-its-Kind Innovation & Experience Center to Tampa, Solidifying Region's Ranking as a Top US Tech Center

CHICAGO, May 19, 2022 /PRNewswire/ -- CoinFlip, a leading financial services provider powered by cryptocurrency, today announces it will open a new office in Tampa, Florida, marking the company's second location in the United States and first foray into corporate expansion. The second office will be located in Water Street Tampa, the 56-acre live-work-play neighborhood that has transformed downtown Tampa. The nearly 8,000-square-foot space will be part of Sparkman Wharf and is slated to open in Summer 2022. With this new location, CoinFlip hopes to create at least 40 new jobs during its first year in Florida.

In addition to expanding its corporate presence, CoinFlip will open a 'Crypto Innovation & Experience Center'. This innovation and experience center will be a first of its kind destination in the United States that will aid in community education about cryptocurrency and provide guidance around purchasing digital currencies via the company's on-site Bitcoin ATMs and Trade Desk, the cornerstones of CoinFlip's business. Maintaining CoinFlip's mission of financial inclusion and accessibility, the experience center will also host educational events to benefit both crypto beginners and enthusiasts.

"This is a huge milestone as we look to not only bridge the gap between the digital economy and financial services, but it also represents a pivotal moment in the type of investment we are making in our CoinFlip family," said CEO and founder of CoinFlip, Ben Weiss. "Choosing Tampa was also methodical as it's quickly becoming a crypto hub for the U.S. and we hope to emulate our tremendous success in Chicago. We're thrilled to partner with Water Street Tampa and Sparkman Wharf, which is already a booming crossroads of commercial and residential real estate – it's a perfect marriage."

"We're honored CoinFlip chose Tampa for this project and its first ever corporate expansion. Our reputation as a top tech city is growing, and I'm confident our strong talent pool will be a great resource for the company as it looks to expand in the area," said Jane Castor, Mayor of Tampa. "Not only is Tampa an engineering hub, but we are also quickly becoming a center for all things crypto. We're excited to continue to build our presence in the crypto space with the addition of CoinFlip - a true win for the city!"

Water Street Tampa is bringing nine million square feet of new commercial, residential, entertainment and educational space to create a walkable "15-minute city" experience in downtown Tampa. Sparkman Wharf, the development's mixed-use waterfront destination, features 180,000 square feet of spacious loft-style office space and 65,000 square feet of ground-level retail, as well as a park which is home to an intimate dining garden featuring ten restaurant concepts housed in refurbished shipping containers and a one-acre recreation lawn that is regularly programmed with community events. Seamlessly linking surrounding neighborhoods to the city's central business district, Water Street Tampa is an ideal place for CoinFlip to be part of a balanced urban experience that reflects the way people want to live and work.

"As CoinFlip looks to expand its product offering and reach a new demographic of consumers in 2022, Tampa is the perfect city to attract top talent and engineer new technology for investors interested in the digital economy," said Rory Herriman, Chief Strategy and Technology Officer of CoinFlip, and Tampa area resident. "The CoinFlip team did not take the decision lightly in choosing a location for the company's first corporate expansion. After consulting with the team at the Tampa Bay Economic Development Council, the team is extremely excited by its decision to plant seeds in Tampa. The city's potential as an emerging tech and crypto community is endless, and we're driven to further this potential by bringing crypto innovation directly to the Sparkman Wharf."

"As we continue to grow Tampa into a thriving technology hub, we look for partners who push the boundaries in their industries," said Lee Schaffler, Chief Portfolio Officer for Strategic Property Partners ("SPP"), the developer of Water Street Tampa. "CoinFlip embraces our vision for innovation at Water Street Tampa and we're thrilled they chose Sparkman Wharf. We look forward to adding Bitcoin ATMs and crypto education opportunities to the district."

Named the No. 1 fastest-growing company in Chicago by Crain's Chicago Business, CoinFlip had a five-year growth rate of 1.7 million percent and revenue of nearly $100 million in 2021. The company was also ranked No. 60 on the Inc. 5000, the highest-ranking crypto company included on the list. Since inception, CoinFlip has expanded to over 3,500 ATMs across 49 states, taking its place on the frontline of a financial revolution where cryptocurrency and blockchain technology can empower investors across the country. In 2021, CoinFlip announced its headquarters in Chicago where they continue to expand. CoinFlip's second location in Tampa builds on their Chicago flagship and provides additional opportunities to attract top talent in another community.

CoinFlip is currently hiring – for details on career opportunities, please visit www.coinflip.tech/careers. For more information about CoinFlip, please visit www.CoinFlip.tech and join the conversation on Facebook, Twitter, Instagram and LinkedIn.

About CoinFlip:

CoinFlip is a leading financial services provider powered by cryptocurrency. The company operates the world's largest network of cryptocurrency ATMs by transaction volume with over 3,500 machines across 49 states supporting the buying and selling of major cryptocurrencies with cash. In 2020, CoinFlip launched Trade Desk, an over-the-counter trading service that provides investors a personal account manager and competitive coin pricing. The company does not charge hidden fees, cuts typical transaction fees by as much as half, and provides 24/7 customer support.

CoinFlip was founded in 2015 by Daniel Polotsky, Kristoffer Dayrit, Alan Gurevich, and Benjamin Weiss. Headquartered in Chicago, CoinFlip placed 60th on the 2021 Inc. 5000 list as the top-ranked cryptocurrency company, was named the 2021 #1 fastest-growing company in Chicago by Crain's and was awarded the 2021 Silver Stevie ® Award for Customer Service.

About Strategic Property Partners:

Strategic Property Partners, LLC ("SPP") is a full-service real estate developer, owner and operator focused on world-class execution, innovation and creating high-quality experiential places. SPP's first project, Water Street Tampa, is being developed on 56 acres of contiguous land the company owns in downtown Tampa along the waterfront. The phased Water Street Tampa development project commenced vertical construction in 2018 and is revitalizing the downtown Tampa core into an urban, mixed-use waterfront district consisting of approximately nine million square feet of new commercial, residential, hospitality, cultural, entertainment, educational, and retail uses, totaling over $3.5 billion in private investment from SPP. The company is owned and capitalized through a partnership between Cascade Investment LLC, and Jeff Vinik. For more information on Water Street Tampa, visit www.waterstreettampa.com.

About the Tampa Bay Economic Development Council

The Tampa Bay Economic Development Council is the lead designated economic development agency for Hillsborough County and the cities of Tampa, Plant City and Temple Terrace. Established in 2009 as a partnership between the public sector and private corporate investors, the EDC works to develop and sustain a thriving local economy through the attraction, retention and expansion of high-wage jobs and capital investment within targeted industry sectors, including Corporate Headquarters, Financial and Professional Services, Information Technology, Life Sciences, Defense and Security, Distribution and Logistics, and Manufacturing. The EDC exists because of the generous support of more than 100 corporations, Hillsborough County, and the cities of Tampa, Plant City and Temple Terrace. For more information, visit tampabayedc.com/.

SOURCE CoinFlip