The post Coinbase CEO To Sell 2% Of His CoinBase Holdings For Scientific Research appeared first on Coinpedia Fintech News

Coinbase CEO Brian Armstrong confirmed plans to sell his 2% stake in the crypto exchange firm Coinbase in a tweet on October 15 to fund other firms he co-founded. Armstrong states he is positive on crypto and Coinbase, and that he is totally committed to developing the crypto exchange company and advancing its goal.

He does, however, aim to contribute to science and technology in order to tackle the world’s biggest challenges. As a result, he intends to sell his 2% interest in Coinbase in order to support scientific research as well as the companies NewLimit and ResearchHub.

He holds 16% of the company’s stock and 59.5% of the voting rights in Coinbase, according to the company’s 2022 proxy statement.