Despite the fact that the cryptocurrency market an all-time fell apart for the past day, some still manage to hold their positions. A notable example is the 35-year-old CEO of an American cryptocurrency company Coinbase, Brian Armstrong, which, according to Forbes, became a billionaire.
The end of October Brian finished with another attracting investments for his company. The amount of collected funds stood at 300 million dollars with an estimate of 8 billion. Based on evaluation, Armstrong’s share equals to 1.3 billion dollars. In January, Forbes held an estimation of Armstrong’s capital, which varies from 900 million dollars to 1 billion.
It is quite possible, that Armstrong’s personal cryptocurrency holdings received a financial hit, due to the fall in value of BTC, ETH and other cryptocurrencies in recent years. This fact Brian did not commented to Forbes.
Coinbase was founded in 2012. The main headquarters is located in San Francisco. Today, the company steadily conquers and strengthens the leading positions as the largest cryptocurrency exchanger and the US Exchange. This year, all services owned by the company have about 20 million users, 1.3 billion dollars of revenues. The main revenue stream the company extracts from the commision, which is set for an operation. That is why, the fall of the crypto industry is unnoticeable for Coinbase. The company continues to develop in front of collapse of the stock market.
Within the last investment wave, the company had attracted Tiger Global Management, Wellington Management, Andreesen Horowitz, and other major investors. Coinbase stated, that the remaining 300 million dollars will be spent on enhancement of global connections between fiat and digital currencies.
We want to remind you:
Coinbase Exceed $8B in Valuation Becoming One of Its Kind In the Whole Crypto Space
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