According to reports, the CEO of Coinbase bought a luxury Los Angeles mansion for $133 million

Brian ArmstrongAccording to reports, the CEO of Coinbase, the largest cryptocurrency exchange in the United States, purchased millions of dollars in real estate at the end of 2021.

Armstrong bought a $133 million Los Angeles property from Japanese entrepreneur Hideki Tomita in December last year, Wall Street Journal Report On Monday, people familiar with the matter were quoted.

According to the Wall Street Journal, Tomita initially purchased the real estate for $85 million in 2018. Allegedly, this new transaction marks the largest home purchase transaction ever completed in the Los Angeles area.

Before being sold to Tomita, the Bel Air Manor used to be have Author: Alan Bronfman Hauptman, daughter of Charles Bronfman, heir to billionaire Seagram.

The property includes a 19,000-square-foot mansion with a theater, gym and double-height restaurant. According to reports, the property also has a 6,600 square foot hotel designed by Paul Williams.

As early as 2012, Armstrong co-founded Coinbase with American corporate executives and investor Fred Ehrsam. The exchange has developed rapidly in recent years and has become the largest crypto trading platform in the United States in terms of trading volume and trading volume. Listed on NASDAQ April 2021.

According to reports, Armstrong holds a 19% stake in Coinbase have As of November 2021, the estimated net assets are US$14.7 billion, making it one of the world’s richest cryptocurrency investors with the founders of the FTX exchange Sam Bankman-Fried. Armstrong is also known as The world’s largest cryptocurrency billionaire Released by China Hurun Research Institute in March 2021.

Coinbase did not immediately respond to Cointelegraph’s request for comment. This article will be updated, waiting for any new information.

related: Russian bank Sber launches blockchain ETF to track Coinbase, Galaxy Digital

Cryptocurrency executives have recently purchased more and more real estate. According to reports, Jonathan Yantis, co-founder of the non-fungible token platform Worldwide Asset eXchange Buy In mid-December, the 70-acre estate outside Denver was sold for $12.5 million.

Changpeng ZhaoAccording to reports, the CEO of Binance, the world’s largest cryptocurrency exchange Bought his first home in Dubai October 2021.He had previously stated that as of April 2021, he did not have any real estate, claiming that he Sold his apartment in Shanghai in 2006 Buy bitcoin (Bitcoin).