In spite of poor market conditions, crypto is still making people very rich. The latest person to make the crypto billionaire list is Brian Armstrong.
The 35-year-old graduate of Rice University is the co-founder and CEO of Coinbase, the largest cryptocurrency exchange in the United States.
Recently Coinbase secured $300 million US dollars in funding and the business hit an all-time high value of $8 billion. This means that Brian Armstrong’s stake in the business is worth around $1.3 billion US dollars.
Coinbase’s future success or failure is ultimately tied to the future performance of cryptocurrencies. The fact Coinbase’s value is growing in spite of the crypto winter can only be a good sign for those already invested in crypto.
Coinbase has stated that it will use the $300 million it recently raised to expand its global links between fiat currencies and cryptocurrencies, and to add more cryptocurrencies to its exchange. Coinbase is also working to attract more financial institutions to cryptocurrency trading and also has a custodian service available.