TL;DR Breakdown
- Coinbase IPO will take Brian Armstrong’s wealth above $10 billion.
- Armstrong pledges better customer support from exchange.
With Coinbase set to conduct an Initial Public Offering (IPO), the Brian Armstrong firm’s stock could be worth as much as $14 billion after listing, report says. The Coinbaase CEO would be ranked among tech gurus like Jeff Bezos, Elon Musk, Mark Zuckerberg, etc whose wealth have accrued above $10 billion.
The listing was postponed till next month for unknown reasons according to Bloomberg. The IPO was previously scheduled for March.
Coinbase, being the largest American crypto exchange and one of the largest crypto firms, could get an IPO listing that could have a giant impact on the entire crypto industry along with the stakeholders and individuals directly linked with the firm. This makes Brian Armstrong number one to reap the fruits of the IPO.
Per the Securities and Exchange Commission (SEC) report, the CEO owns 39.6 million Coinbase shares between his Class A and Class B holdings. One Coinbase share, the firm’s recent prospectus states that stocks would trade at $343.58 as Armstrong’s wealth would hike close to $14 billion. He would become a tech decabillionaire.
Brian Armstrong’s Coinbase to improve customer experience after IPO
When the CEO had a Ask Me Anything (AMA) session, he had several questions to answer as regards Coinbase development. He disclosed that there would not be any Airdrops for users of the shares and said customers’ unresponsiveness in the firm would be strictly addressed.
He blamed customers’ negligence on the recent crypto upsurge, which has led to a rise in questions asked and other inquiries. Users have claimed the firm hide behind chatbot responses as Brian promised all issues would be addressed soon.
The CEO said the firm has continued to employ customer support representatives. He said they have doubled the entire staff in that department, noting that things would improve regarding customer support as time goes on.
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