Brian Armstrong, the chief executive of Coinbase, has become one of the wealthiest men on earth alongside the boom of the crypto industry.
Over the past decade, the crypto industry has experienced an extraordinary boom, transforming from a niche experiment into a global financial phenomenon.
Armstrong, who launched Coinbase in 2012, has been at the forefront of this upward trajectory. The CEO has seen his wallet grow exponentially from his entrepreneurial spirit and foresight to join the world of crypto in its early years.
Now, following Donald Trump’s historic victory and crypto’s entrance into the mainstream, Armstrong is seeing another unprecedented rapid boost in wealth, and it’s not looking like it’s about to slow down.
According to Forbes and Bloomberg , Armstrong’s net worth is estimated at around $12.8 billion, as of January 2025.
Armstrong, 41, has made most of his wealth from co-founding and leading Coinbase, the largest cryptocurrency exchange in the U.S.
The CEO currently holds a 15% stake in the crypto exchange, Bloomberg reported.
As of 2023, the crypto exchange reported an annual revenue of $3.1 billion in 2023, according to its annual report.
Born on Jan. 25, 1983, near San Jose, California, Armstrong was influenced early on by his parents, who both worked as engineers.
Before enrolling at Rice University in Texas, he attended Bellarmine College Preparatory, a private all-male Catholic high school.
In 2005, Armstrong earned dual bachelor’s degrees in economics and computer science, followed by a master’s degree in computer science in 2006.
While at Rice, Armstrong demonstrated his entrepreneurial inclinations by starting a business that matched tutors with students.
After graduation, he spent a year in Buenos Aires working for an education company.
Upon returning to the U.S., Armstrong gained experience as an IBM developer and later as a consultant at Deloitte.
In 2010, Armstrong encountered the Bitcoin (BTC) white paper authored by the pseudonymous creator Satoshi Nakamoto, sparking his interest in digital currencies and ultimately beginning his journey into the crypto world.
The following year, he joined Airbnb as a software engineer, where he was exposed to the complexities of international payment systems across the platform’s operations in 190 countries.
This experience highlighted the inefficiencies in cross-border transactions to Armstrong and reinforced his interest in cryptocurrencies as a potential solution.
Motivated by the potential benefits of digital currencies, Armstrong began developing code in Ruby and JavaScript during nights and weekends to facilitate the buying and storing of crypto.
In 2012, he entered the Y Combinator startup accelerator and secured a $150,000 investment to fund his new venture, Coinbase.
That same year, Armstrong co-founded Coinbase with Fred Ehrsam on a mission to create a user-friendly platform for crypto enthusiasts to trade digital assets.
Coinbase was launched in what is now considered the early days of crypto. Bitcoin had been invested just three years prior, beginning as an obscure digital currency in 2009.
However, as the years went on, Coinbase experienced rapid growth.
By July 2019, the platform had reached 30 million users and received millions in funding as crypto grew in mainstream popularity.
In April 2021, Coinbase went public through a direct listing on the Nasdaq exchange, achieving a market capitalization of $85 billion.
This public offering validated the company’s business model and significantly increased Armstrong’s personal wealth, solidifying his status as a billionaire.
The re-election of Donald Trump and the changing political landscape in the U.S. have significantly impacted Armstrong’s wealth.
Trump, a staunch advocate for deregulation and a hands-off approach to emerging technologies, has created a thriving environment for crypto adoption—the best possible outcome for businesses like Coinbase.
Following Trump’s win, Coinbase shares rallied, marking one of their strongest performances since the company’s direct listing on Nasdaq in 2021.
Armstrong, Coinbase’s largest shareholder, saw his personal wealth skyrocket by $2.1 billion, bringing his total stake to over $9 billion practically overnight.
“No matter how you slice it, this election was a huge win for crypto,” Armstrong posted on X.
“One idea I’ve been contemplating is that Bitcoin may be the key to extending Western civilization.”
“At Coinbase, our first priority is to ensure that we operate the most secure and compliant digital currency exchange in the world.”
“I do think some digital currency will end up being the reserve currency of the world. I see a path where that’s going to happen.”
“If you decide one day that you don’t like Coinbase , or they’re doing something that is not in your interest, then you can send your cryptocurrency off of Coinbase, and it’s fully compatible with any other private company that might be interacting in that space.”