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.”

Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Check Price Action

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

Check Latest News Headlines

&nbsp

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/vvaldmann

Source: https://dailyhodl.com/2022/10/16/coinbase-ceo-brian-armstrong-to-sell-portion-of-his-shares-to-fund-scientific-research/