Coinbase CEO Brian Armstrong is well on his way to fulfilling a pledge to sell company stock to fund his new ventures.

Last October, Armstrong promised to sell 2% of his total Coinbase stake over the next year, with proceeds going to projects like life extension unit NewLimit and science startup Research Hub, both of which he co-founded.

Armstrong is now about one-third of the way through offloading that stock. He held 39.6 million Coinbase shares at the time of the firm’s 2022 proxy statement, representing an 18% stake in the company (with 59.5% voting power).

(By DAVID CANELLIS)

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