Coinbase CEO Will Sell 2% Of His Share Next Year To Fund Science And Technology Research Companies

The Coinbase CEO shared that he will sell his 2% stake in the company to satisfy his personal passion for promoting the development of science and technology.

On October 15, Coinbase CEO Brian Armstrong posted on social media that because of his personal passion for advancing science and technology, this is possible. moreover, he plans to sell about 2 of his shares next year.

With the sale of shares in Coinbase, Brian Armstrong will fund scientific research and companies like NewLimit and ResearchHub.

Brian Armstrong added: “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.”

This somewhat reassures users in a time when a series of leaders and managers of cryptocurrency companies are leaving their positions.

Armstrong owns 16% of Coinbase and controls 59.5% of its voting shares, according to the company’s 2022 proxy statement.

Coinbase shares had better days as they fell more than 8% on Friday, closing at $63.59. Armstrong’s statement on Twitter has yet to affect their prices on after-hours trading.

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