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Coinbase CEO reportedly buys LA mansion for $133M


The property was previously owned by Ellen Bronfman Hauptman, the daughter of billionaire Seagram’s inheritor Charles Bronfman.

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Coinbase CEO reportedly buys LA mansion for $133M

Brian Armstrong, CEO of Coinbase — the biggest cryptocurrency alternate in the US — reportedly made a multi-million-dollar actual property buy on the finish of 2021.

Armstrong purchased a $133-million Los Angeles property from Japanese entrepreneur Hideki Tomita in December, The Wall Road Journal reported on Monday, citing nameless individuals acquainted with the matter.

In response to The Wall Road Journal, Tomita initially bought the actual property for $85 million in 2018. The brand new deal allegedly marks the largest house buy ever accomplished within the L.A. space.

Previous to being bought to Tomita, the Bel-Air property was previously owned by Ellen Bronfman Hauptman, the daughter of billionaire Seagram’s inheritor Charles Bronfman.

The property features a 19,000-square-foot mansion that includes a theater, a fitness center and a double-height eating room. The property additionally reportedly had a 6,600-square-foot visitor home designed by Paul Williams.

Armstrong co-founded Coinbase with American enterprise government and investor Fred Ehrsam again in 2012. The alternate has been rising massively in recent times, changing into the biggest crypto buying and selling platform within the U.S. by way of buying and selling volumes and going public on Nasdaq in April 2021.

With a reportedly 19% stake in Coinbase, Armstrong had an estimated internet price of $14.7 billion as of November 2021, being one of many world’s richest crypto buyers alongside FTX alternate founder Sam Bankman-Fried. Armstrong was additionally known as the world’s largest crypto billionaire by China’s Hurun Analysis Institute in March 2021.

Coinbase didn’t instantly reply to Cointelegraph’s request for remark. This text will probably be up to date pending any new data.

Associated: Russian financial institution Sber launches blockchain ETF monitoring Coinbase, Galaxy Digital

Crypto executives have been more and more shopping for actual property lately. Jonathan Yantis, co-founder of the nonfungible token platform Worldwide Asset eXchange, reportedly bought a 70-acre property exterior Denver for $12.5 million in mid-December.

Changpeng Zhao, CEO of the world’s largest crypto alternate, Binance, reportedly purchased his first house in Dubai in October 2021. He beforehand stated that he didn’t personal any actual property as of April 2021, claiming that he bought his condominium in Shanghai again in 2006 to purchase Bitcoin (BTC).

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