Coinbase CEO to meet US House Democrats on Wednesday
Coinbase CEO Brian Armstrong is reportedly scheduled to meet with a group of centrist House Democrats to discuss digital-asset legislation, tax, national security, privacy, and climate. The meeting will be held behind closed doors on Wednesday morning. Armstrong has been an outspoken critic of the SEC and has pushed for clearer crypto rules in Washington. The crypto industry has recently attacked SEC Chair Gary Gensler after the agency sued Coinbase and Binance for allegedly breaking securities laws.
Coinbase CEO Brian Armstrong Deletes Most of His Tweets Amid Regulatory Scrutiny
The CEO of Coinbase, Brian Armstrong, has deleted most of his older tweets, which has caused speculation within the crypto community. The WayBackMachine, a digital archive of the World Wide Web, has also eliminated its archive of Armstrong's tweets. Some have linked this action to the ongoing regulatory scrutiny that Coinbase has been facing.
Coinbase CEO Outlines Ideal Crypto Regulations for US
Coinbase CEO Brian Armstrong has shared his vision for US crypto regulations in an interview with the Wall Street Journal. Armstrong believes that a clear regulatory framework is needed to define the roles of the SEC and the CFTC, while also providing investor protection.
Coinbase CEO Brian Armstrong Confident US Will Achieve Regulatory Clarity for Cryptocurrency
Brian Armstrong, CEO of Coinbase, expressed confidence that the United States will eventually achieve regulatory clarity for cryptocurrencies, even if it takes time. He believes that once this happens, crypto businesses will return to the country. In an interview with the Wall Street Journal, Armstrong addressed the recent SEC lawsuit against Coinbase, stating that he believes the company did not require the registrations the SEC alleges it lacked. He also highlighted the importance of regulatory clarity for the cryptocurrency industry in the US, and pointed out the need for clear boundaries between financial regulators.
Coinbase CEO Sold Shares Before SEC Lawsuit, Avoiding Losses
Brian Armstrong, CEO and co-founder of Coinbase, sold company shares the day before the SEC filed a complaint against the exchange for securities law violations. The sale caused controversy on Twitter, as Armstrong avoided a significant loss. However, it is unclear whether the trade was set up before the news of the SEC action was known to Armstrong. Armstrong has been regularly selling Coinbase stock since November under a pre-determined trading plan.
Coinbase CEO Warns of China's Digital Payment Industry Challenging US Crypto Industry
Coinbase CEO Brian Armstrong has warned that the US crypto industry faces a strong challenge from China's digital payment industry. Armstrong noted that China's Alipay and Tencent offer integrated payment systems and are rapidly scaling worldwide, with its social credit system baked in.
Coinbase founder Brian Armstrong raises $40 million for NewLimit, a startup that wants to ‘cure aging’
NewLimit, a startup co-founded by Coinbase CEO Brian Armstrong, has raised $40 million in funding to research ways to reverse the aging process through epigenetics. The company aims to manipulate cells so that cells that have become "old" can flip back to a youthful state. While Armstrong did not specify how many years of life extension this research may provide, the focus is more on extending healthy years and quality of life. NewLimit's initial research will focus on T cells of the immune system. Armstrong compared NewLimit's efforts to SpaceX, noting that while the ultimate goal is ambitious, partnerships and revenue from more immediate applications can help advance the overall mission.
Coinbase CEO Brian Armstrong's Security Benefits Cost the Company $6.3 Million in 2022, SEC Disclosure Reveals
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.
Coinbase CEO Brian Armstrong's Security Costs Tripled in 2022 to $6.3 Million.
According to an SEC disclosure, Coinbase CEO Brian Armstrong received $6.3 million in security benefits last year, which is more than triple the amount his security cost the company the year before. The increase in security costs was not explained in the company's executive compensation summary published last month. Armstrong's total compensation was $7.5 million in 2022, with the majority of his wealth coming from his holdings and sales of Coinbase stock. Despite his high security bill, all of Armstrong's senior colleagues received more annual compensation in 2022 than he did, with the vast majority of their compensation coming in the form of stock and option awards.
