Coinbase CEO Brian Armstrong plans to sell 2% of the company’s stock.
Armstrong expressed his desire to continue as CEO for many years to come.
Coinbase CEO to Sell Part of His Share
The CEO of the largest US cryptocurrency exchange stated that he wants to sell 2% of his entire stake in the company in the next few months.
Armstrong will use the proceeds from the sale of shares to support scientific research and fund such companies.
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.
— Brian Armstrong (@brian_armstrong) October 15, 2022
With this move, the Coinbase CEO hopes to help accelerate science and technology. Companies the CEO wants to fund include NewLimit and ResearchHub.
NewLimit states that it operates for “radical expansion of human health using epigenetic reprogramming.” SkyBridge Capital CEO Anthony Scaramucci is among the names that finance the company.
ResearchHub says it focuses on “accelerating the pace of science by rewarding open sharing and discussion of academic research.” Supporters of this company include Justin Sun from Tron.
Armstrong said he wanted to remain CEO of the company for a long time despite the stock sale.
Dozens of executives in the crypto industry have resigned from their company over the past few months.
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