Brian Armstrong, CEO of Coinbase - the largest cryptocurrency exchange in the United States of America - has purchased a property in Los Angeles for $133 million.< /p>
The Wall Street Journal, citing sources familiar with the matter, reported that Armstrong purchased the property at the end of 2021 from Japanese businessman Hideki Tomita, who bought it in 2018. at $85 million.
The new deal is claimed to represent the largest home purchase ever completed in the state of Los Angeles, according to the Cowen Telegraph.
Armstrong co-founded Coinbase with US CEO and investor Fred Ehrsam in 2012.
Coinbase has grown exponentially in recent years, to become the largest US cryptocurrency exchange by volume and went public on Nasdaq in April 2021.
With a 19% stake in Coinbase, Armstrong had an estimated net worth of $14.7 billion as of last November.
Armstrong was also named the world's largest crypto billionaire by China's Hurun Research Institute in March 2021.
