Crypto industry inherently holds the notion of collaborations, partnerships, support through fundings and investments, etc. Such traits have made the entire space reach the level where it is today. The same is expected to bring it to the levels the crypto community wants it to go.
Such an instance showing the spirit of mutual partnership witnessed when Coinbase CEO announced funding to scientific research and related companies. In his 15th October post on Twitter, CEO Brian Armstrong said to invest in NewLimit and ResearchHub.
Coinbase CEO noted the funds for investment in these companies will be raised after selling off his 2% of overall share holdings within the crypto exchange firm. This sell-off is expected to take place by next year, as the Twitter post suggested. He added about his passion in speeding up science and technology in order to help with solving the several biggest challenges within the world.
Both the companies Armstrong mentioned in his Tweet are working towards scientific research in their specialization.
Companies Intriguing Coinbase Executive
NewLimit, for instance, is indulged in research of diseases related to increasing age in order to expand human healthspan. The company conducts in-house research for which they collaborate with experts from academic as well as clinical sectors. The firm is up to making real world medical products that emerged after the scientific discoveries, its official website noted.
Moreover, the company is involved in development of epigenetic reprogramming medicines in order to cure specific diseases. According to the company, they have experts from multiple streams including cell biology, computational biology, genomics, machine learning and operations.
Meanwhile ResearchHub is a website said to be working towards accelerating the pace in scientific research. The platform intends to create mobile and web applications for people to join and collaborate over scientific research. This way, the project assures making the research accessible to everyone.
Not Stepping Down From Coinbase
Co-founder and CEO of Coinbase, Brian Armstrong holds about 16% of the company’s share overall. In his following Tweets, he went on to clarify that his selling of shares should not be implied as something that he is stepping down from his designation as CEO of Coinbase or being less bullish on crypto assets anyway.
Armstrong also said that he is sharing this as he wanted everyone to know about his decision at first by him. He said that he is dedicated towards the goal of growing their business and advancing the company’s mission. In addition to this, he also added his wish to contribute to the community in a distinct way.
Coinbase is the leading crypto exchange within the United States and second in the world after Binance. The crypto exchange firm was founded in the year 2012 by Brian Armstrong and Fred Ehrsam but had no headquarters. Currently the crypto exchange firm is valued at 14.32 billion USD.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
Source: https://www.thecoinrepublic.com/2022/10/17/coinbase-ceo-up-to-sell-portion-of-shareholdings-by-next-year/