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What is the background of Coinbase founder Brian Armstrong?
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Brian Armstrong is one of the richest figures in the cryptocurrency space, having founded the Coinbase exchange, making $8 billion in just five years, and Forbes ranking him as one of the top investors in the world.
Brian Armstrong first learned about Bitcoin during Christmas 2010, when he was staying at his parents' house in San Jose and stumbled upon Satoshi Nakamoto's seminal document, "Bitcoin: A Peer-to-Peer Electronic Cash System." From that moment on, he began to think about starting something big.
He used a sentence as his entrepreneurial principle: "It is not the gold diggers who get rich, but the shovel sellers." At that time, there was a direct competitor in the industry, the famous Mt. Gox, but the platform had serious transaction delay problems. In 2021, Brian Armstrong and Fred Ehrsam officially registered Coinbase.
Coinbase began to receive a lot of investment, with a valuation of more than 8 times Brian's original goal. He originally planned to create a company with a valuation of $1 billion. Now Brian Armstrong is living the ideal life and has a billionaire fortune.
Brian Armstrong believes that cryptocurrency will never replace the traditional financial system, but will be a powerful supplement to it. Exchange-traded funds (ETFs), asset custody services, and products deeply integrated with banks and financial technology platforms will become development trends.
