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Mega salary for Coinbase CEO Brian Armstrong: He is said to earn one million US dollars a day | 05/10/21

• Newcomer Coinbase revolutionizes the crypto market
• Coinbase benefits from the crypto boom
• Mega-salary CEO Brian Armstrong

Cryptocurrencies on the rise

Operators of digital trading platforms also benefit from the massive increases in value that cryptocurrencies are currently experiencing – above all the US company Coinbase, which provides a digital space through which cryptocurrencies such as Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic and Litecoin are traded can be. On April 14th, the US company, based in San Francisco, went public on the New York tech stock exchange NASDAQ.

Lucrative deal for Coinbase CEO

As reported by the US business news agency Bloomberg, Coinbase co-founder and current CEO Brian Armstrong would earn about $ 1 million a day after the IPO. This results in up to three billion US dollars over the next ten years, Bloomberg continues to calculate. The high sums are paid out, among other things, as part of the so-called “founders grant”, which is intended to keep the company founder “happy and happy,” according to the experts from the business magazine Spiegel. “Founders grants” are large blocks of shares that are given to company founders before they go public. Such deals are typically intended to offer founders an incentive to stay with the company, Der Spiegel continues.

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Coinbase with strong growth ahead of IPO

Even before the official IPO, Coinbase was already well positioned financially: The crypto trading platform reported sales of 1.3 billion US dollars in 2020 – a doubling of sales if you look at the figures from the previous year.

The marketplace for digital foreign exchange currently enables over 56 million verified users in 100 countries to trade crypto currencies. In the first quarter of 2021 alone, Coinbase generated more than in all of 2020 combined. Current sales are around $ 1.8 billion.

Coinbase share: Coinbase IPO successful

As can be seen from the form submitted to the US Securities and Exchange Commission, the tech startup applied for a so-called direct placement in January 2021, with a reference price of $ 250. At $ 381, however, the actual initial price was a full 52 percent above the initial estimate. In the case of IPOs via direct placements, so-called “direct listings”, shares are brought to the stock exchange without the involvement of investment banks; There is also no need for pricing procedures, shares are placed on the stock exchange by direct placement. According to the US business magazine Forbes, experts are said to have already given a $ 100 billion rating for FinTech in advance.

Despite a successful IPO, the Coinbase share has steadily lost in value since April 14th. Initially traded at a price of US $ 381 per share, a share on the NASDAQ currently only costs US $ 256.70 (as of May 6, 2021).

Finanzen.ch editors

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