Coinbase CEO to Sell 2% of His Stake to Fund Scientific Research

October 16, 2022

MCP News Free

Coinbase CEO to Sell 2% of His Stake to Fund Scientific Research

On Saturday, Armstrong Coinbase disclosed his plans to sell 2% of his stake in Coinbase for science and technology research in 2023.

I’m sharing this as I want you to hear it from me first.
— Brian Armstrong (@brian_armstrong) October 15, 2022

According to Coinbase’s 2022 proxy statements, Brian Armstrong owns a 16% stake and controls about 59% of voting rights in the company.

Armstrong revealed this move in a tweet on Saturday, which in his tweet, he is selling a part of his stake in Coinbase to fund the company he co-founded.

Additionally, Armstrong said he’s bullish on Coinbase and also committed to growing the cryptocurrency exchange business and as well advancing its mission.

“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,” said the Coinbase CEO.

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