Breaking: CEO Brian Armstrong To Sell His 2% Stake In Coinbase, Here's Why

Crypto exchange Coinbase CEO Brian Armstrong on Saturday disclosed plans to sell his 2% stake in Coinbase over the next year for science and technology developments. Brian Armstrong looks to fund scientific research in his co-founded companies such as biotechnology company NewLimit and scientific research firm ResearchHub. According to the company’s 2022 proxy statement, he owns 16% stake and controls 59.5% of voting rights in Coinbase.