Coinbase Invests in 40 Startups Founded by Former Employees

Coinbase, the largest cryptocurrency exchange in the U.S., is continuing its aggressive investment strategy, recently backing 40 new projects.

Coinbase CEO Brian Armstrong shared on his X account that these investments were made in startups founded by former Coinbase employees.

Joining Coinbase is one of the best ways to learn how to start a startup.

We’ve invested in ~40 startups founded by former employees.

A lot of great founders launch products internally at Coinbase as well (and benefit from the distribution). Startup founders with sufficient… https://t.co/QBchayxeez pic.twitter.com/PIa2yExP9W

— Brian Armstrong (@brian_armstrong) August 29, 2024

Among the companies receiving support are notable projects like the DeFi platform dYdX, the decentralized social network Farcaster, and the on-chain social network Zora.

These investments highlight not only Coinbase’s dedication to fostering innovation but also the significant influence of its alumni in shaping the crypto industry’s future.

Armstrong emphasized that Coinbase offers a strong foundation for aspiring entrepreneurs, noting that many successful founders started their journeys within the company. He also hinted at plans for further investments, aiming to support more innovative ventures.