September17 , 2021

Brian Armstrong – CEO of world’s largest crypto exchange

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Coinbase is among the world’s biggest and most developed Bitcoin businesses, making it one of the easiest ways to buy and sell Bitcoin. It’s new investment round priced Coinbase at $8.1 billion, speculating that the firm expects to be listed on a U.S. stock exchange later this year.

While an Airbnb engineer many years ago, Brian Armstrong watched Cuba suddenly turn off listings to conform with U.S. federal regulation, and Cuban hosts lost ties to the global economy. What if there was a way to exchange goods and resources for less political interference?

Almost, eight years later Armstrong is Coinbase’s co-founder and CEO, allowing some 30 million users to purchase and exchange digital currencies like Bitcoin and Ether that aren’t directly connected to any country’s monetary policy.

Biography 

Born in 1983, Brian Armstrong is Coinbase’s co-founder and CEO, one of America’s biggest cryptocurrency exchanges. Armstrong founded Fred Ehrsam’s 2012 exchange. The San Francisco, California-based business.

Coinbase is now one of the biggest and most successful cryptocurrency exchange sites, worth over $1bn. Though mainly known for operating Coinbase, he is also a GiveCrypto foundation co-founder. Until founding Coinbase, Armstrong worked as an Airbnb software programmer, IBM developer, and Deloitte consultant.

On June 20, 2018, Armstrong revealed it had formed givecrypto.org, a non-profit organization aiming to help unbanked people worldwide obtain access to financial resources and “financially empowering people by distributing global cryptocurrency.” GiveCrypto achieved the first $4 million milestones in 2019.

Later in 2018, Armstrong signed The Giving Pledge, a movement initiated by Warren Buffet and Bill Gates urging the rich to donate part of their money to philanthropic causes. In October 2018, Coinbase raised $300 million in an $8 billion funding round led by Tiger Global.

He has featured for his contributions in numerous 40 under 40 magazines, is a promoter of Bitcoin adoption, and educates people at lectures, conventions, and different workshops. Together among with Charlie Lee he reached “Unicorn” status with his venture and was estimated at $1.6 billion in 2019.

Armstrong was at the forefront of comments from media sources in late 2020 and stirred staff after his public remarks advocating an ‘apolitical’ role in Coinbase’s working community.

Brian Armstrong Net Worth

  • Brian Armstrong leads Coinbase Bitcoin Exchange, the major US exchange.
  • San Francisco-based Coinbase co-founded by Armstrong in 2012.
  • In October 2018, Coinbase raised $300 million from Tiger Global’s $8-billion fundraising round.

Early Life

Brian was born on January 25, 1983. He grew up in California’s San Jose. While at high school, he developed information science skills. He actively started studying Java and CSS and remembers receiving many odd looks from his colleague because of his “nervity.” His first few paid jobs came when he was still in high school when he designed small business websites in the San Jose area. He was then working out of his neighbor’s garage.

Brian took admission in Rice University in 2001. He graduated with a double degree in computer science and economics in 2005. He chose to obtain a Master’s Degree in Computer Science in 2006 after his Bachelor’s program. He wanted to spend a year in Buenos Aires, Argentina.

Career

Brian always used to think high. He did some small-scale work in companies but never was pleased. He needed more and more improvement. He desired to become an entrepreneur from his school days and passion for creating his own business. He continued believing in his talents and business plans and worked toward achieving them.

Brian launched his Bitcoin journey in 2010 when he first contacted this anonymous blockchain. There weren’t many start-up companies then. Having dreamed of expanding the base of start-ups, he saw this remarkable chance to exploit the large market. This gave rise to Coinbase, currently the viral cryptocurrency exchange worldwide.

In 2012, he developed and co-founded ‘Coinbase’ as a bitcoin platform to support keen investors buy and sell their cryptocurrencies via bank transfers. Coinbase is a type of wallet and trading company based in San Francisco, California. His company ‘Coinbase’ became the first cryptocurrency exchange in 2017 for achieving Unicorn status.

Brian was the first crypto entrepreneur to sign the pledge. He also founded a charitable group called ‘GiveCrypto.org,’ which collected $4 million in cryptocurrency as a gift. It determined to distribute through direct cash transfers to needy citizens.

Rewards & Accomplishments

Brian Armstrong’s three honors are discussed below:

  • Coinbase Founder, 2012
  • Riskmaster Award, 2014
  • Fortune’s 40-40, 2017

Brian is an ambitious, goal-oriented person. He thinks you should try never to lose faith. If you work with dedication and in the right direction, you’ll get there one day. 

As reported by Forbes, Brian Armstrong first co-founded ‘Coinbase’ in 2012. He has got one of cryptocurrency’s most prominent and famous trading sites. That’s when his bitcoin career started. He is now the company’s CEO, responsible for all programs and goods delivered across the site. And about a thousand employees, the company’s estimated valuation is $8 billion. In 2017, ‘Coinbase’ has the quality to become the first cryptocurrency platform with Unicorn status.

Brian Armstrong also served as a “speaker” at many conventions. His name was listed in the listing of forty highly prominent business people below forty in the 2017 Fortune journal. Brian is considered the Bitcoin community’s star.

Armstrong’s 2019:

2019 was a steady year of success for Coinbase, with the exchange announcing that it had added 8 million new customers over the past year, raising about $2 billion in trading fees since 2012. Armstrong opposed the U.S. Sens. Brian Schatz and Sherrod Brown for forcing payment service giants Stripe, Mastercard, and Visa to leave the Libra Association—the proposed blockchain governance consortium—calling the move “very un-American.”

Later that month, on the 11th anniversary of the Bitcoin White Paper publication, Coinbase published a study that concluded Bitcoin has managed to outperform S&P 500 since 2013. Late December, after decoding numerous crypto wallets and decentralized application browsers from Google and Apple, Armstrong voiced fear that Apple could decrypt the Coinbase software, beginning a development that could have detrimental impacts crypto industry. Earlier that month, Armstrong was revealed as one of Andreessen Horowitz’s seven-week crypto-start-up school curriculum.

Coinbase in 2020:

Coinbase is probably one of crypto economy’s most common exchanges for newcomers. Space entrants also buy their first cryptocurrency on Coinbase. This popularity brings a too high degree of regulatory oversight and strain. We expect Coinbase to continue its journey towards being an S&P 500 for crypto markets via solely custodial services. And if the exchange switched to a trust-minimized business model where customers could own their private keys, the regulatory pushback would turn them back to a conventional, centralized business model. In 2020 several events took place as listed below:

  • In 2020, Coinbase collaborated closely with US regulators to support sensible legislation
  • Launch of Coinbase Earn allowed millions of users to learn rewarded cryptocurrencies
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