Coinbase CEO discloses his Coinbase stake sell plan

The chief executive officer of the Coinbase exchange revealed that he will sell 2% of his holding stakes in the Coinbase exchange to invest in some necessary tech innovations.

Brian Armstrong is the founder & CEO of the Coinbase exchange. Coinbase (Nasdaq Index COIN) is a popular Nasdaq-listed crypto exchange, which is known to provide services globally under full compliance. In terms of 24 hours global crypto trade volume on this platform, it is standing at 2nd rank, just after the Binance exchange.

On 15 October, Brian Armstrong took to Twitter to inform his followers that he planned to sell 2% of his total COIN holdings and further reinvest that fund in those tech & science development works, which are needed to solve real-world problems.

“I’m passionate about accelerating science and tech to help solve some of the biggest challenges in the world. To further this, I’m planning to sell about 2% of my Coinbase holdings over the next year to fund scientific research and companies like @newlimit + @researchhub.”

In short, Brian will sell his Coinbase stake to fund the research & development works to solve the big challenges. 

Further, Coinbase CEO also clearly said that he will remain bullish on Coinbase & Crypto and also he will try to remain at his same position in Coinbase company for the long run.

So, here Coinbase CEO confirmed that selling his COIN holdings doesn’t mean that he is going to lose interest in cryptocurrencies or the Coinbase exchange. 

Coinbase exchange always remains ready to fight against technical challenges, to provide enhanced crypto services. On 2 October, Coinbase’s Automated Clearing House (ACH) system faced some technical issues and that resulted in big problems for America-based users to deposit money via direct Bank transfer. At the end of the day, the team solved & fixed the issue.

Read also: Financial Stability Board releases Crypto regulation framework