CoinFlip joins tenant roster at Old Post Office

CoinFlip, a Chicago-based operator of cryptocurrency ATMs that has seen rapid growth, joined Gov. J.B. Pritzker to announce Tuesday that the company is bringing its headquarters to the Old Post Office downtown.

It signed a lease for 44,000 square feet in the renovated landmark at 433 W. Van Buren St. Officials said the company will add at least 30 jobs to its current count of 138 Chicago workers.

The company will get a state tax subsidy valued at $1.68 million, said a spokeswoman for the Illinois Department of Commerce and Economic Opportunity. The credit under the EDGE program, applied over 10 years, represents half the state’s expected revenue from income tax withholdings for the new jobs.

Pritzker urged other CEOs and organizations to come to the state, saying “let me be clear — the future of cryptocurrency is in Illinois.”

He said the state is “open for business for everyone that wants to be in this industry. Already Illinois serves as a home base for 58 different blockchain and cryptocurrency organizations, and I’ll make it clear to any other CEOs who are out there, wanting to join our ecosystem: Our door is open . ... The fact that the world’s leading crypto ATM company is expanding its roots and personnel in Illinois is yet another boost to our bid to becoming the best.”

Ben Weiss, CoinFlip’s CEO, said their move to the Old Post Office marks the largest cryptocurrency lease here in the state of Illinois, cementing the company as “a homegrown company that was founded and built right here in Chicago.”