Coinbase CEO Brian Armstrong To Sell Portion of His Shares To Fund Scientific Research

The chief executive of top US crypto exchange Coinbase says he’s going to sell a portion of his company shares to fund scientific research.

Coinbase CEO and billionaire Brian Armstrong tells his 1.1 million Twitter followers that he’s planning on selling 2% of his holdings as a means of funding several scientific research firms.

“I’m passionate about accelerating science and tech to help solve some of the biggest challenges in the world. To further this, I’m planning to sell about 2% of my Coinbase holdings over the next year to fund scientific research and companies like NewLimit and ResearchHub.”

NewLimit is a medicinal firm focused on extending human life through epigenetic reprogramming while ResearchHub is a website with the goal of creating a mobile and web application where scientists can gather to collaborate on research.

According to Bloomberg, Amstrong owns about 16% of all Coinbase shares.

Armstrong goes on to note that the sale of his shares doesn’t mean he’s changing his bullish views on crypto assets and Coinbase, nor should it be taken as a signal that he wants to step down as the firm’s CEO.

“For the avoidance of doubt, I intend to be CEO of Coinbase for a very long time and I remain super 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.”

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