According to Brian Armstrong’s statement, “I'm passionate about accelerating science and tech to help solve some of the biggest challenges in the world.”
Brian Armstrong, CEO of Coinbase, revealed his plans to sell 2% of his company holdings over the next year.
Armstrong stated that he will use the capital acquired from the sale of his Coinbase stake to fund scientific and technological developments, in addition to supporting companies like NewLimit and ResearchHub.
NewLimit is a life sciences firm that aims to extend the human lifespan by restoring youthful functions in aged cells. ResearchHub is a platform for the open publication of scientific research.
It is worth noting that Armstrong is the Co-Founder of both ResearchHub and NewLimit.
Armstrong currently owns 16% of Coinbase and holds 59.5% of the firm’s voting shares.
Coinbase’s shares closed at $63.59 on Friday, with the firm reporting a net loss of $1.1B in Q2 2022.
Contrary to the community’s speculations, Armstrong claimed that he has no intention of stepping down from his position as CEO of Coinbase. He also added that he will remain bullish on crypto and Coinbase.
“I’m fully dedicated to growing our business and advancing our mission, but I am also excited to contribute in a different way.”
