The Texas Business Court on October 2 dismissed a derivative lawsuit filed by shareholder Gary Guillaume against Coinbase directors. The court ruled that because Coinbase had reincorporated from Delaware to Texas on December 15, 2025, the shareholder was required to first make a written demand to the board of directors, as mandated by Texas law, before filing suit. Guillaume failed to meet this requirement, and his lawsuit was dismissed without the court ruling on whether the directors engaged in misconduct. Coinbase CEO Brian Armstrong praised the ruling on October 9, stating it would encourage more companies to register in Texas.