- Coinbase CEO Brian Armstrong will sell his 2% stake to fund scientific research
- Armstrong will sell his stake to Funds research at NewLimit and Researchhub, two research companies Armstrong himself co-founded.
Brian Armstrong, CEO of cryptocurrency exchange Coinbase, revealed his plans on Twitter, which include promoting scientific innovation to combat The world’s big problems and challenges.
Armstrong intends to sell his 2% stake in the company to fund scientific research and innovation in his new companies such as Newlimit and Researchub.
Coinbase CEO wants to help solve some of the world’s biggest challenges by funding scientific research-related work
Coinbase CEO Brian Armstrong revealed his future plans on Twitter, adding He’s passionate about tackling some of his “biggest challenges.” world. Armstrong later revealed how the CEO of Coinbase planned to sell his 2% stake to fund scientific research and innovation in the companies he co-founded, specifically Researchhub and NewLimit.
I am passionate about accelerating the development of science and technology to help solve the world Some of the biggest challenges. To take this a step further, I plan to sell my ~2% stake in Coinbase over the next year to fund scientific research and companies like @newlimit + @researchhub
— Brian Armstrong (@brian_armstrong) May 15, 2022
In addition to launching Coinbase, Armstrong co-founded two new companies, Researchhub and NewLimit.
Researchhub is described as a “platform for accelerating the pace of scientific research, where people can conduct scientific research in a more efficient way, similar to what GitHub has done for software engineering. “
” This project aims to create an open science community, including discussions about papers and funding. Scientists publish papers in a Reddit-like fashion and can get funding from any source. Users will be rewarded with RSC when they contribute. “Nomics.com
NewLimit, on the other hand, has been called “a radical expansion of the scope of human health using epigenetic reprogramming.” “
“NewLimit will first delve into the epigenetic drivers of aging and develop products that regenerate tissue to treat specific patient populations. We will first use primary human cells and reference species to develop machine learning models to understand how chromatin signatures change with age, which of these changes may be responsible for the aging process, and finally to develop therapies that can slow, stop or reverse the process .” Brian Armstrong on NewLimit.
Armstrong further stated that he is very bullish on Coinbase and cryptocurrencies and is fully committed to developing Coinbase to help it enter a new However, Armstrong later added that he intends to intensify innovation and research in his mission to contribute to the ecosystem “in a different way.”
For the avoidance of doubt, I intend to be CEO of Coinbase for the long term, and I am still Super bullish on cryptocurrencies and Coinbase. I’m fully committed to growing our business and advancing our mission, but I’m also excited to contribute in a different way.
– Brian Armstrong (@ brian_armstrong) October 15, 2022
According to the company’s 2022 proxy statement, Armstrong owns nearly 16% of the company’s shares and controls 59.5% of Coinbase’s voting rights.
I share this because I want you to first Hear my voice.
— Brian Armstrong (@brian_armstrong) October 15, 2022
Coinbase has been experimenting with cryptocurrencies recently related services to help expand its existing product portfolio. The company recently partnered with Google to offer cryptocurrency payments to select users and plans to enhance its advanced transaction capabilities on the platform for crypto-savvy users A broader portfolio of exchange services.
