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Coinbase CEO Brian Armstrong Sells Almost 2% of Company Stake To Fund Startups

Coinbase CEO Brian Armstrong has sold almost 27,600 COIN shares, generating $2.9 million and bringing the total number of shares sold to 681,672, or 86% of his pledge to sell 2% of his company stake to fund other startups.

Armstrong's net worth is estimated at $4.3 billion. He plans to direct the funds to his startups NewLimit and ResearchHub. Other company insiders sold over $5 billion in company stock across COIN's first two days of trade, with early investor and board director Fred Wilson and his firm Union Square Ventures making up nearly three-quarters of the total sold.

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