Early Life and Education
Brian Armstrong was born on January 25, 1983, in San Jose, California. Both of his parents were engineers, which provided an early exposure to technology. He attended Bellarmine College Preparatory, a Catholic, all-male, private secondary school. Armstrong pursued higher education at Rice University, where he earned a dual bachelor's degree in economics and computer science in 2005, followed by a master's in computer science in 2006. During his time at Rice, he started a business matching tutors to students.
Rise to Success
After graduating from Rice University, Armstrong worked in Buenos Aires for an education company. His career path included roles as a developer for IBM and a consultant at Deloitte. In 2010, he discovered the Bitcoin white paper. In 2011, he joined Airbnb as a software engineer, where he was exposed to payment systems in various countries. Experiencing the inefficiencies of traditional payment systems, especially in cross-border transactions, he started coding in Ruby and JavaScript to buy and store cryptocurrencies. In 2012, Armstrong co-founded Coinbase with Fred Ehrsam, with the goal of making Bitcoin more accessible.
Key Business Strategies
Armstrong's leadership has been crucial in Coinbase's growth, transforming it from a startup to a publicly traded company. Coinbase went public via a direct listing on the Nasdaq in April 2021. As of 2024, Coinbase has over 100 million users and is the largest U.S.-based cryptocurrency exchange and the world's biggest Bitcoin custodian. The company operates in more than 100 countries and holds nearly $516 billion in assets. Armstrong has focused on creating a secure and user-friendly platform, facilitating easy crypto transactions for individuals and institutions.
Philanthropy
In 2018, Armstrong became the first cryptocurrency executive to sign the Giving Pledge, committing to donate a significant portion of his wealth to philanthropic causes. He also founded GiveCrypto.org to provide direct cryptocurrency transfers to people living in poverty.