In January, Forbes estimated the wealth of Brian Armstrong, the CEO and co-founder of Coinbase, at between $900 million and $1 billion.
This October, however, Coinbase obtained funding of $300 million and Armstrong’s share at that time was estimated at $1.3 billion.
The company has stated that it intends to use these funds to expand their influence, adding support to more fiat and cryptocurrencies.
Coinbase, since it was founded in 2012, has been so involved in the cryptocurrency industry to the point that it pays its employees in bitcoin. But despite this, the company continued to thrive regardless of market movements, consolidating itself as the largest cryptocurrency exchange in the United States.
According to Bloomberg, the exchange in question is expected to generate sales of $1.3 billion this year and, according to Forbes, the platform has over 20 million users.