Coinbase CEO Brian Armstrong's security benefits cost the company $6.3 million last year, more than triple the previous year's cost, according to a recent SEC disclosure. Armstrong's total compensation for 2022 was $7.5 million, with a flat salary of $1 million and the rest going towards security and legal costs. The CEO's wealth also comes from his holdings and sales of the company stock, with nearly $57 million in option awards and 39 million shares worth around $2.4 billion. Despite the CEO's compensation increase of 134% from the previous year, Coinbase reported a fifth consecutive quarter of losses, with $79 million in losses and a decline in total revenue to $772.5 million.
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Coinbase CEO Brian Armstrong's Security Benefits Cost the Company $6.3 Million in 2022, SEC Disclosure Reveals
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