Coinbase CEO to star in documentary
Coinbase co-founder Brian Armstrong says documentary will show “the good, bad, and ugly” of running a tech start-up
Brian Armstrong, the co-founder and CEO of Coinbase, has announced that a documentary covering his experience building the $18.5bn (£16.4bn) cryptocurrency giant will be available from 7 October.
On a mission to promote economic freedom
According to the trailer, Coin: A Founder’s Story will chronicle “the rise of a visionary founder in crypto who harnesses the power of this emerging technology to promote a mission of global economic freedom”.
Armstrong said that he gave director Greg Kohs and his team “unprecedented access inside the company, showing the crazy ups and downs of building a tech start-up all the way to us becoming a public company. He shows it all - the good, bad, and ugly.”
Kohs previously directed AlphaGo, a documentary about the Go match between top-ranked player Lee Sedol and Google’s DeepMind AI. Armstrong said “It was a powerful story, and it’s what convinced me to trust him to tell our story.”
Starting business took determination and luck
The 39-year old businessman admitted that starting a company “is like chewing glass and staring into the abyss” and “takes incredible determination and a bit of luck”
He added: “My belief is that technology is the best lever we have to solve the world’s problems and improve the human condition, and I want to encourage more people to start tech companies. So I decided to pull back the curtain and show people what it's really like.”
The documentary also features interviews with other well-known figures in the cryptocurrency sector, ranging from Ethereum co-founder Vitalik Buterin to MicroStrategy executive chairman Michael Saylor.
Coinbase endures crypto market volatility
Coinbase held its initial public offering (IPO) in 2021, achieving a $100bn valuation on its first day of trading. The company has experienced less plain sailing in the following year and a half, however, as investor sentiment has cooled across the cryptocurrency industry.
In addition to seeing its stock fall by 70% in the past 12 months and having to cut its workforce, Coinbase has experienced both regulatory hurdles and legal challenges.
Late last month, the blockchain firm Veritaseum sued the company for $350m alleging patent infringement.
By 10:45 EST on Wednesday, Coinbase was trading down by 6.6% at $69.64.