Brian Armstrong, CEO of bitcoin exchange Coinbase, received $6.3 million in compensation for legal fees and personal safety in 2022. This is stated in the report for SEC.
In 2021, payments for Armstrong amounted to only $1.9 million. The report did not specify the reasons for the increase in expenses.
The total amount of compensation of other top managers of Coinbase:
- COO Emily Choi – $23.5 million;
- CFO Alesya Khaas – $12 million;
- product director Surojit Chatterjee – $20.7 million;
- General Counsel Paul Grewal – $7.5 million;
The vast majority of payments to executives came in dividends for options and shares of the company. At the same time, all five exchange managers receive the same annual salary – $ 1 million.
According to documents for the SEC, in April 2022, Armstrong owned a 16% stake in Coinbase. The voting share of the CEO was almost 60%.
In May 2022, The Wall Street Journal estimated that Coinbase executives had sold $1.2 billion worth of shares in total since IPO to February.
Recall that the net loss of Coinbase in the first quarter of 2023 amounted to $78.9 million, or $0.34 per share. This result was much better than analysts’ expectations ($0.87).
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Cryplogger Newsletters: Keep your finger on the pulse of the bitcoin industry!
Brian Armstrong, CEO of bitcoin exchange Coinbase, received $6.3 million in compensation for legal fees and personal safety in 2022. This is stated in the report for SEC.
In 2021, payments for Armstrong amounted to only $1.9 million. The report did not specify the reasons for the increase in expenses.
The total amount of compensation of other top managers of Coinbase:
- COO Emily Choi – $23.5 million;
- CFO Alesya Khaas – $12 million;
- product director Surojit Chatterjee – $20.7 million;
- General Counsel Paul Grewal – $7.5 million;
The vast majority of payments to executives came in dividends for options and shares of the company. At the same time, all five exchange managers receive the same annual salary – $ 1 million.
According to documents for the SEC, in April 2022, Armstrong owned a 16% stake in Coinbase. The voting share of the CEO was almost 60%.
In May 2022, The Wall Street Journal estimated that Coinbase executives had sold $1.2 billion worth of shares in total since IPO to February.
Recall that the net loss of Coinbase in the first quarter of 2023 amounted to $78.9 million, or $0.34 per share. This result was much better than analysts’ expectations ($0.87).
Found a mistake in the text? Select it and press CTRL+ENTER
Cryplogger Newsletters: Keep your finger on the pulse of the bitcoin industry!